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BNP Paribas has agreed to sell its majority stake in Moroccan bank BMCI to Holmarcom Finance Company, the two sides said on Wednesday. Under the deal, Holmarcom Finance Company will acquire the 67% stake held by the French bank.
The transaction is expected to close in the fourth quarter of this year, subject to regulatory approvals. The companies did not disclose financial terms.
The agreement also includes a long-term commercial partnership designed to preserve continuity of services for corporate clients operating in Morocco. BNP Paribas said it would remain active in the country through its corporate and investment banking arm and its vehicle leasing business, Arval Morocco.
Holmarcom Finance Company is part of the family-owned Holmarcom group, which already has banking and insurance interests in Morocco and a growing presence in West Africa. The group said the acquisition fits its strategy to expand in banking and build closer links between BMCI and Crédit du Maroc, another lender it controls.
The deal adds to a broader reshaping of Morocco’s banking sector, where local groups have been expanding their control over major financial institutions. For BNP Paribas, it marks a shift in ownership while preserving a commercial foothold in the market.
