Banque Centrale Populaire - ratings affirmed by Capital Intelligence
Capital Intelligence (CI) has affirmed the ratings of Banque Centrale Populaire (BCP), based in Casablanca, Morocco. BCP's Financial Strength Rating (FSR) is maintained at 'bbb'. This reflects BCP's good level of capital adequacy, adequate overall provisioning and operating position in the Moroccan banking sector. It is constrained by rising non-performing loans (NPLs), falling returns and a tight liquidity profile. The Outlook for the FSR remains 'Stable'. BCP's Foreign Currency Ratings are affirmed at 'bbb-' Long-Term and 'a3' Short-Term, together with a 'Stable' Outlook. The Support Rating is affirmed at '2', indicating that BCP would possibly receive support from the authorities in case of need.