BNP Paribas to sell 67% of BMCI to Holmarcom, exiting Morocco retail banking

BNP Paribas announced it will divest its 67% ownership of Morocco’s Banque Marocaine du Commerce Extérieur (BMCI) to the domestic group Holmarcom Finance Company. The transaction is slated for completion by the end of 2026, subject to approval by Moroccan regulators. While the sale marks the French bank’s withdrawal from the Moroccan retail banking market, it will retain its corporate and investment banking activities, continue operating the leasing subsidiary Arval Maroc, and maintain a long‑term commercial partnership with Holmarcom.

The deal follows a broader retreat of French banks from Morocco, after Société Générale agreed earlier in 2024 to sell its Moroccan operations to the Saham Group. Holmarcom plans to combine BMCI with its existing subsidiary Crédit du Maroc to create a stronger national banking player capable of competing with the country’s largest financial institutions. The move is expected to reshape the competitive landscape of Morocco’s banking sector, reducing the presence of foreign banks while consolidating domestic ownership.