BNP Paribas private bank "will be supported by its Moroccan subsidiary, La Banque marocaine pour le commerce et l'industrie  (BMCI), which has over 250 agencies, of which 100 are based in Casablanca," the paper said.

   The new structure will be Headed by Meryem Kabbaj, Director of Private Banking at BMCI.

   "The growth potential in Morocco is very important," La Tribune quoted the Director of BNP Paribas Wealth Management Marie-Claire Capobianco as saying, adding that "BMCI is the first to offer a private bank in the country, it reached enough maturity to develop its economic model."

   Capobianco said that the BMCI, as a bank close to enterprises, is a "strong asset for the launch of a private bank."

   The new BNP Private bank in Morocco aspires to acquire assets of a billion euros under management by 2013.