Société Générale is separating from its Moroccan subsidiary

Société Générale du Maroc under the wing of Saham Finances? According to sources requesting anonymity, the Saham Finances group would be in negotiations to acquire 57% of the capital of Société Générale du Maroc for 8 billion dirhams, reports the daily Les Inspirations Éco, adding that while the two parties have not responded to its questions about the transaction, "concordant sources suggest that the negotiations are well advanced".

The day after the change in top management in May 2023, the French banking group has made some decisions, including pursuing a divestment policy. Thus, "four subsidiaries had been targeted for disposals, showing the group’s predisposition to divest non-strategic positions in its portfolio on the continent". This decision had a positive impact on the stock market price of Société Générale du Maroc.

Société Générale du Maroc is the fourth bank in the kingdom, and the 22nd in Africa, according to the ranking of the magazine The Banker. It has a total balance sheet of more than 121 billion dirhams. However, its share in the overall revenues of the French banking group remains small.