For decades…
French banks were among the biggest players in Morocco’s financial sector.
But now…
Another historic name is preparing to leave.
BNP Paribas has confirmed it will sell its 67% stake in BMCI to the Moroccan group Holmarcom, with the transaction expected to be finalized before the end of 2026, pending regulatory approval.
This isn’t an isolated decision.
In 2024, Société Générale had already agreed to sell Société Générale Maroc and La Marocaine Vie to the Saham Group, marking the start of a broader withdrawal by major French banking groups from the Moroccan retail market.
But don’t expect BNP Paribas to disappear completely.
The group says it will keep its corporate and investment banking activities, continue operating Arval Maroc, and maintain a long-term commercial partnership with Holmarcom.
For Holmarcom, the acquisition is strategic.
By combining BMCI with Crédit du Maroc, the group aims to create a stronger Moroccan banking player capable of competing with the country’s largest financial institutions.
So this isn’t just one bank changing owners.
It’s another sign that Morocco’s banking sector is becoming increasingly controlled by domestic groups, while international banks refocus on markets they consider more strategic.
The real question is…
Will Moroccan-owned banks be better positioned to drive the country’s future… or will the departure of global banking giants reduce international influence and competition?
