• BNP Paribas entered exclusive preliminary talks with Holmarcom to sell its 67% stake in BMCI.

• Holmarcom already owns 2.41% of BMCI and acquired Crédit du Maroc in 2024.

• BNP Paribas plans to maintain its investment-banking operations in Morocco even if the deal proceeds.

BNP Paribas said on Friday, 12 December 2025, that it entered exclusive discussions with Moroccan conglomerate Holmarcom regarding the potential sale of its 67% majority stake in Banque marocaine pour le commerce et l’industrie (BMCI). The French group has operated in Morocco since 1943.

The bank added that the talks remain at a preliminary stage, which means no final agreement has been reached. BNP Paribas also notified BMCI that it intends to continue its investment-banking activities in Morocco even if it divests its controlling stake.

Holmarcom, the potential buyer, is a Moroccan private holding active in finance, insurance and other sectors. The group already owns a 2.41% minority stake in BMCI, held for nearly 30 years.

Holmarcom strengthened its banking footprint in June 2024, when it acquired a 78.7% stake in Crédit du Maroc from Crédit Agricole SA. If it acquires BNP Paribas’s stake in BMCI, BMCI would become Holmarcom’s second banking subsidiary, consolidating its position in Morocco’s financial sector.

The group said the talks align with its long-term growth strategy in financial services and that it will provide further updates as negotiations progress.

Investors will closely monitor the pace of negotiations, as the preliminary nature of the discussions means the transaction may not materialize. Market observers will also evaluate the potential impact on Morocco’s banking landscape.

A majority takeover of BMCI by a private Moroccan group such as Holmarcom could alter competitive dynamics in the sector. The potential deal would represent a significant shift in the ownership structure of a major Moroccan bank and reflects a broader trend of international banking groups consolidating their operations and reinforcing their financial positions.

This article was initially published in French by Chamberline Moko

Adapted in English by Ange Jason Quenum