The “Banque centrale populaire” (BCP) is strengthening in Madagascar. The banking group has finalized the acquisition of 71% of the capital of the Bank of Madagascar and the Indian Ocean (BMOI), from Groupe BPCE (a French banking group formed by the Banque Populaire and Caisse d’Epargne networks), after the obtaining all the regulatory authorizations.
This acquisition allows the group to become a leading player in the Malagasy banking market.
BCP is already present in the country through BCP Bank. The bank also operates in Mauritius.