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The Mutuelle Agricole Marocaine d'Assurances (MAMDA) bought back 4 116 000 shares held by the Banque Populaire Fès-Meknès in the capital of Banque Centrale Populaire (BCP).
On the other hand, the Mutuelle Centrale Marocaine d'Assurances (MCMA) has acquired 4 099 000 BCP shares.
Both transactions have reached 2 billion MAD (223.7 million USD). Consequently, MAMDA and MCMA now hold respectively 6.51% and 6.57% of BCP's capital.
The agricultural mutuals plan to increase their stakes in the bank's capital.
Read also | Moroccan Insurance Market
