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Morocco's BCP acquires 68.5% stake in Cameroon bank

Morocco's Banque Centrale Populaire completed the acquisition of French bank Groupe BPCE's 68.5% stake in Cameroon-based Banque Internationale du Cameroun Pour l'Epargne et le Crédit, Business in Cameroon reported.

The deal, the terms of which were not disclosed, was completed after receiving all the regulatory approvals, the report noted.

Groupe BPCE in September 2018 entered into exclusive talks with BCP to divest its banking interests in Cameroon, Madagascar, the Republic of the Congo and Tunisia.