BNP Paribas plans to sell its stake in BMCI before the end of the year. The French banking group confirms that the operation with Holmarcom must be finalized in the fourth quarter of 2026, subject to approval from Moroccan authorities.
In Berkane, a vast financial scandal shakes a BMCI branch. An employee is suspected of embezzling nearly 1.60 million dirhams from several clients’ accounts before fleeing to Europe, triggering a major investigation.
The Holmarcom group acquires 67% of BMCI from BNP Paribas. This historic operation marks the exit of French retail banks from the Kingdom and paves the way for a major merger with Crédit du Maroc.
The French group BNP Paribas is selling its entire stake in BMCI to Holmarcom. This strategic agreement, finalized Wednesday, paves the way for the merger with Crédit du Maroc to form an unavoidable financial giant in the Kingdom.
The disengagement of French banks in Morocco is accelerating. In the wake of the acquisition of Société Générale by the Saham group, BNP Paribas has just taken a decisive step to sell its subsidiary BMCI to the Moroccan conglomerate Holmarcom.
The operation should not be finalized until 2026, but it is already shaping the new banking map of the Kingdom. BNP Paribas is planning to sell its Moroccan subsidiary to strengthen its capital, leaving the field open for its historical partner, the Holmarcom group, to recover the majority of the capital.
The deferral of credit maturities "without fees or penalties" would generate additional interest.
The Moroccan Bank for Commerce and Industry (BMCI) and the European Bank for Reconstruction and Development (EBRD) are joining hands to promote female entrepreneurship.