After Société Générale, another French bank permanently exits Morocco

The reduction of French banking establishments’ presence on the African continent continues. Following exclusive negotiations initiated last December, BNP Paribas and Holmarcom Finance Company signed, this Wednesday April 29, 2026, an agreement transferring the total 67% stake held by the French bank in its Moroccan subsidiary. The finalization of this transaction is scheduled for the fourth quarter of the year, subject to regulatory approval. While the French institution is divesting its capital stake, it will maintain a footprint in Morocco through its long-term car rental subsidiary Arval and its investment banking activities.

On Bladi.net : After Société Générale, another French bank is leaving Morocco

This sale is accompanied by a commitment to support during the transition phase and a lasting commercial partnership between the two entities. The objective is to ensure service continuity for international clients operating between Europe and Moroccan territory. For Thierry Laborde, deputy chief executive officer of the French group, this agreement "enables the opening of a new development phase for the bank’s business, its clients and its employees," while preserving the institution’s historical anchor in this market.

On Bladi.net : BNP Paribas is leaving Morocco and selling its subsidiary to Holmarcom

On the side of the acquirers, this second major operation, following the acquisition of Crédit du Maroc, confirms ambitious plans. A minority shareholder in BMCI for over three decades, Holmarcom now plans a merger between these two networks to create a larger banking player. Mohamed Hassan Bensalah, CEO of the acquiring group, believes this acquisition represents a "structuring milestone" designed to build an integrated financial hub bringing together banking, insurance and specialized services to support the national economy.