Spain’s Banco Popular has opened a representative office in Casablanca, Morocco, as part of its business development plans outside Spain.
The opening of the Moroccan office takes the number of countries where Banco Popular has a presence to 20. Over the past 10 years commercial exchanges between Spain and Morocco have more than doubled, the company said.
More than 700 firms have a presence in the country and about half are Banco Popular’s clients. Banco Popular’s office aims to provide support to local clients who have an interest in the country, as well as providing advisory services to local SMEs with relations with Morocco and strengthen its presence on the ground.
Banco Popular said it plans on gaining some 30% of its total revenues through international business. Prior to the opening of this office, Banco Popular has opened an office in Mexico.