BNP Paribas to Sell Moroccan Bank as Third French Lender Exits
Three major French banks, three successive withdrawals from Morocco. In results published on 28 October, BNP Paribas confirmed the timeline for selling its Moroccan subsidiary. The deal is accelerating the reshaping of the kingdom’s banking landscape.
BNP Paribas has announced quarterly earnings of 3.46 billion euros, up 13.5%. Yet amid these financial results, the French group confirmed its intention to sell Banque marocaine pour le commerce et l’industrie (BMCI), which generated 358 million euros in revenue in 2025.
In its 28 October statement, the bank maintained that the deal is due to be completed in the fourth quarter of 2026. The 67% stake it holds in BMCI is to come under the control of Holmarcom, a Moroccan group that has been among its shareholders for more than thirty years.
The agreement, signed on 29 April, still has to clear the final regulatory hurdles. For BNP Paribas, the sale will notably improve its capital ratio by around 0.15 percentage points.
Three French banks, three exits from Morocco
The withdrawal is part of a trend that began several years ago. Crédit Agricole led the way, selling 63.7% of Crédit du Maroc to Holmarcom in December 2022, before transferring its remaining 15% to the group in June 2024.
A few months later, on 3 December 2024, Société Générale completed the sale of its Moroccan subsidiary to the Saham Group. The deal, announced at 745 million euros, also included several financial subsidiaries and the insurance company La Marocaine Vie.
With BNP Paribas, a third major French banking brand is therefore preparing to relinquish control of its Moroccan banking network.
Holmarcom is the main beneficiary of this reshaping. Already the owner of Crédit du Maroc, the group is preparing to take control of BMCI and is considering bringing the two institutions together to create a larger banking player.
For BNP Paribas, the sale marks the end of its control of a Moroccan retail bank, but not the end of all its activities in the kingdom. The group plans to continue its investment banking and car-leasing activities, notably through Arval Maroc, while maintaining a commercial partnership with Holmarcom.
