Moroccan conglomerate Holmarcom has officially completed the acquisition of BMCI (Banque Marocaine pour le Commerce et l'Industrie) from French banking giant BNP Paribas, according to a statement released on April 30, 2026. The deal, which had been anticipated for months, was finalized after receiving regulatory approvals from Moroccan authorities.
The acquisition includes BNP Paribas' entire 66.7% stake in BMCI, making Holmarcom the majority shareholder. Financial terms of the transaction were not disclosed, but analysts estimate the deal to be worth several hundred million euros. BMCI is one of Morocco's largest banks, with a network of over 200 branches and significant corporate and retail banking operations.
Holmarcom, a family-owned group with interests in insurance, logistics, and industry, has been expanding its financial services footprint. The group already controls the insurance company AtlantaSanad and has been seeking to diversify into banking. This acquisition positions Holmarcom as a key player in Morocco's banking sector, competing with established groups like Attijariwafa Bank and Banque Centrale Populaire.
BNP Paribas' exit from Morocco is part of a broader strategy to refocus on its core European markets. The French bank has been divesting from several African countries in recent years, including the sale of its subsidiary in Ghana in 2025. BNP Paribas stated that the transaction aligns with its strategic priorities and will allow it to concentrate resources on its main markets.
The deal is expected to be finalized in the coming months, pending remaining regulatory approvals. Holmarcom has indicated that it plans to maintain BMCI's current management and operations, while exploring synergies with its existing financial services businesses.
