The Moroccan banking group Banque Populaire du Maroc Group (GPB), the largest bank in Morocco, has opened a new headquarters and bank shop in Amsterdam.

The move to open such a branch is part of a plan devised by the bank aiming to enhance its presence in Europe and also dictated by the important presence in Netherlands of a large Moroccan community.

The Amsterdam branch will provide services that adapt to the new context marked by new financial regulations in Europe, and aims also to offer services to the Moroccan expatriates in Netherlands. Although GBP is not only focussing on Dutch-Moroccan customers but also on private Dutch customers and Dutch companies wishing to do business in Morocco.

Morocco's Banque Populaire Group achieved a net profit of $193 million in the first half of 2008, a 22% increase over the same period in 2007. The group's net banking income increased by 17%,

Banque Populaire now has four stores in Netherlands and says it will open at least one other in 2010. It has also branches in France, Spain, Italy, UK and will soon open a branch in Germany and also has plans to open 40 branches in Europe.

Banque Centrale Populaire Groups's principal activity is the provision of short, medium and long-term credit to businesses. It operates throughout Morocco as well as in France, Belgium, Guinea and the Central African Republic. The Group provides a range of financial services and products to businesses various sizes. The bank is the market leader in Morocco with 750 branches and three million customers.