Holmarcom Acquires BNP Paribas Stake in BMCI to Build Integrated Financial Group

Casablanca Financial Markets

Wednesday, April 29, 2026

Holmarcom Takes Control of BMCI in Strategic Acquisition Move

In a significant development for Morocco's banking sector, Holmarcom Finance Company (HFC) has reached an agreement with BNP Paribas to acquire the French banking giant's 67% stake in Banque Marocaine pour le Commerce et l'Industrie (BMCI). This transaction represents a major step in Holmarcom's strategy to create an integrated financial services group.

Deal Details and Timeline

The acquisition agreement between Holmarcom Finance Company and BNP Paribas outlines a complete transfer of the French group's controlling interest in its Moroccan subsidiary. While the transaction is expected to be finalized in the fourth quarter of 2026, it remains subject to regulatory approvals from Bank Al Maghrib and the Competition Council.

Strategic Partnership and Client Continuity

Beyond the equity acquisition, the two groups will establish a long-term commercial partnership. This arrangement ensures that BMCI clients, as well as BNP Paribas customers operating in Morocco, will continue to receive complementary high-value services. BNP Paribas has reaffirmed its commitment to Morocco, planning to expand BNP Paribas CIB activities and extend Arval Morocco's long-term leasing operations.

Integration and Growth Strategy

With over three decades as a historical partner and shareholder of BMCI, Holmarcom aims to accelerate its banking market development strategy. The acquisition supports potential consolidation between Credit du Maroc and BMCI, creating a larger banking entity with enhanced capabilities to generate value for clients, provide more opportunities for employees, and strengthen contributions to the national economy.

The integration process will prioritize employee engagement and client interest preservation, maintaining service quality and advisory excellence throughout the transition period.

Executive Vision

"This acquisition marks a structuring step in our development trajectory, driven by the ambition to build an integrated financial group around banking, insurance, and specialized financial services," said Mohamed Hassan Bensalah, CEO of Holmarcom Group. "We approach this with deep conviction: nothing durable is built without client trust or the commitment of the women and men who bring our organizations to life."

"We are pleased to conclude this agreement with Holmarcom, whom we have known for over 30 years as a shareholder and BMCI partner," stated Thierry Laborde, Deputy General Manager of BNP Paribas Group. "This agreement opens a new development phase for the bank, its clients, and staff, whose commitment we appreciate. It consolidates established relationships and cooperation built over time."