BCP closes Belgian legal case with €174 million settlement
The Banque Centrale Populaire group has brought an end to a long-running legal dispute in Belgium through a court-approved financial settlement worth approximately €174 million. The agreement was formally validated by a French-speaking first instance court in Brussels, closing proceedings that had been open since 2018.
The case involved the Belgian branch of Chaabi Bank, a subsidiary of BCP, which provided financial and administrative assistance services to Moroccan nationals living in Belgium. These activities were examined by Belgian authorities as part of an investigation into the bank’s historical role in supporting diaspora clients through informal and formal service channels.
Under the terms of the agreement, BCP and Chaabi Bank will pay the agreed amount within 30 days of judicial approval. The settlement was reached with the Belgian federal prosecution service and ends all criminal proceedings linked to the investigation. Authorities confirmed that the homologation of the transaction does not constitute an admission of criminal liability.
The resolution avoids a full trial and brings legal certainty to a case that had weighed on the institution for several years. The dispute centered on the nature of cross-border banking support provided to Moroccan communities in Belgium and the regulatory framework governing such services. With the case closed, the group removes a major legal uncertainty from its international operations.
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