Morocco’s second largest financial institution, Banque Marocaine du Commerce Exterieur (BMCE) has restructured its operations, and is now managed by an executive committee headed by the bank's President Jaloul Ayed.
The bank’s departments now include a retail banking unit, major corporate accounts unit, an international unit, which is manages the bank’s foreign subsidiaries and representation offices abroad. Established in 1959, BMCE’s capital currently stands at 1.587 billion Moroccan dirhams ($139 million). The Bank’s domestic network includes 201 branches and a 2,850-strong staff.
The first privatized bank in Morocco, BMCE shareholders include Royale Marocaine d'Assurance (RMA), Commerzbank, Al-Wataniya, Union Bancaire Privée, Nomura, Banco Espirito Santo, Caisse Inter-Professionnelle Marocaine de Retraite (CIMR), Mutuelle Agricole Marocaine d’Assurances (MAMDA) and Société Centrale de Réassurance.
The Bank’s international presence is centered in Europe, where it operates since 1973 through a main branch in France and a network of branches and representative offices in Spain, the United Kingdom, Germany, Belgium, Italy and China. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
