RABAT, April 30 – French bank BNP Paribas has agreed to sell its 67% majority stake in Moroccan lender BMCI to Holmarcom Finance Company, marking a significant shift in ownership within Morocco’s banking sector.
The transaction, announced jointly by both parties, is expected to close in the fourth quarter of the year, pending regulatory approvals. Financial details of the deal were not disclosed.
As part of the agreement, BNP Paribas and Holmarcom will establish a long-term commercial partnership aimed at ensuring continuity of services, particularly for corporate clients operating in Morocco.
Holmarcom Finance Company is part of the broader Holmarcom Group, a family-owned business with interests in banking and insurance. The group has backing from the International Finance Corporation and has been expanding its footprint across West Africa.
Despite the sale, BNP Paribas will maintain a presence in Morocco through its corporate and investment banking operations, as well as its vehicle leasing subsidiary, Arval Morocco. The bank also said it would support the transition of BMCI into the Holmarcom group after the deal is completed.
For Holmarcom, the acquisition aligns with its strategy to strengthen its position in the financial sector. The group plans to create synergies between BMCI and Credit du Maroc, another lender under its control, with the goal of building a larger and more competitive banking platform.
The deal reflects ongoing consolidation trends in Africa’s banking industry, as local players expand and international banks reassess their footprint in key markets.
