French banking group BNP Paribas has taken a technical step in its planned withdrawal from Morocco by reclassifying the assets and liabilities of its subsidiary, Banque Marocaine pour le Commerce et l'Industrie (BMCI). The reclassification, reported in the bank's financial statements, is a procedural move that precedes a final sale.
This action follows the announcement in December 2025 that BNP Paribas had entered into exclusive negotiations to sell BMCI to a consortium led by Morocco's Bank of Africa (BMCE). The negotiations are part of BNP Paribas's broader strategic review of its retail banking operations in several countries.
The reclassification of BMCI's accounts signifies the bank's advanced preparations for the transfer of ownership. It involves moving the subsidiary's figures from 'continuing operations' to 'assets held for sale and discontinued operations' on its balance sheet, a standard accounting practice for divestments.
Financial details of the potential sale to the Bank of Africa-led group have not been publicly finalized. The deal, if completed, would mark a significant shift in Morocco's banking landscape, consolidating local ownership of a major financial institution.
