Morocco's BCME Bank raises $103m to grow in Africa

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By Aidan Gregory
20 Aug 2019

BCME Bank, one of the largest banks in Morocco, has raised Dh1bn ($103m) by selling new shares on the Casablanca Stock Exchange.

BMCE Capital Bourse, the investment banking division of BCME Bank, arranged the rights issue. Alongside the capital increase, BMCE Bank also recently raised $200m by selling a 5% stake to CDC, the UK government’s development finance company.

Announced in late June, the three for 97 rights issue ...

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