Holmarcom Finance Company (HFC) has signed an agreement with BNP Paribas to acquire the French bank's 67% stake in its Moroccan subsidiary, BMCI. The deal, announced on April 29, 2026, is part of a strategic consolidation in Morocco's banking sector.
The acquisition is valued at approximately 4.5 billion Moroccan dirhams (around €420 million), based on BMCI's market capitalization. The transaction is expected to close by the end of 2026, pending regulatory approvals from Moroccan authorities, including the central bank and the competition council.
Following the acquisition, HFC plans to merge BMCI with its existing banking unit, Crédit du Maroc, creating the fifth-largest banking group in Morocco by assets. The combined entity will have a network of over 400 branches and a market share of around 8% in loans and deposits.
BNP Paribas stated that the sale aligns with its strategy to simplify its retail banking footprint in Africa, while Holmarcom aims to strengthen its position in the Moroccan financial sector. The merger is expected to generate cost synergies and enhance digital banking services for customers.
