French banking group BNP Paribas has reclassified its Moroccan subsidiary, Banque Marocaine pour le Commerce et l'Industrie (BMCI), as an asset 'held for sale' in its financial statements. This accounting move is a formal step indicating the bank's intention to sell the subsidiary and exit the Moroccan market.
The reclassification was confirmed in the group's 2025 annual financial report. It follows BNP Paribas's announcement in July 2024 that it had entered into exclusive negotiations to sell BMCI to Morocco's Bank of Africa (BMCE). The deal is part of BNP Paribas's broader strategy to refocus its retail banking operations in Europe.
BMCI, which BNP Paribas acquired in 2007, operates a network of branches across Morocco. The potential sale to Bank of Africa, a subsidiary of FinanceCom, would consolidate the latter's position as a leading banking group in the region. The transaction remains subject to regulatory approvals from authorities in both Morocco and France.
The move underscores ongoing shifts in the North African banking landscape, where international groups are reassessing their presence. For BNP Paribas, the exit aligns with a strategic pivot announced in recent years to streamline its international retail banking portfolio.
