Chaabi Bank has appointed Badr Oualadi as its new Managing Director Delegate, replacing Hafid Kamal. The appointment is part of a new management team led by Chief Executive Officer Abdelghani Bouanfir, who took over in late 2025. The leadership change comes after a difficult period for the Paris-based bank, which included financial losses, court cases and a major settlement in Belgium.
Chaabi Bank was set up in France in 1972 and is the European arm of Banque Centrale Populaire (BCP). It operates branches in France, Belgium, Spain, Germany, Italy, the United Kingdom and the Netherlands under European banking passport rules.
The bank mainly serves Moroccans living in Europe and Arab communities. Its services include money transfers, personal banking and support for trade between European and Moroccan businesses.
The French subsidiary had total assets of €404.89 million in 2024. It reported a net loss of €3.53 million during the year.
BCP injected €10 million into the French unit in 2022 after the COVID-19 pandemic hurt its revenues and weakened its capital position.
BCP is one of the two largest banking groups in the country. It manages more than $53 billion in assets and serves over 8.5 million customers through more than 9,500 distribution points across Africa, Europe and North America.
