Bank & Insurance
T Capital weighs down CFG Bank’s accounts with more than €13m in bad debt

T Capital weighs down CFG Bank’s accounts with more than €13m in bad debt

As the unprecedented crisis linked to Covid-19 hits the tourism sector, the Moroccan investment fund continues to try to bring some balance to the young Moroccan bank.

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            ▪ T Capital weighs down CFG Bank’s accounts with more than €13m in bad debt

▪ As the unprecedented crisis linked to Covid-19 hits the tourism sector, the Moroccan investment fund continues to try to bring some balance to the young Moroccan bank.

http://www.jeuneafriquebusinessplus.com/en/804312/t-capital-weighs-down-cfg-banks-accounts-with-more-than-e13m-in-bad-debt/

07/05/2020 at 15h04, by Jeune Afrique Business+

Established over a decade ago, tourism-focused Moroccan investment fund T Capital Group is struggling to generate sufficient income and is unable to repay its loans to its main creditor, CFG Bank SA, which is also one of its main shareholders.

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