Morocco's Holmarcom in exclusive talks to acquire BNP Paribas’ BMCI stake

French multinational banking group BNP Paribas plans to sell its 67% stake in the Moroccan bank Banque Marocaine pour le Commerce et l'Industrie (BMCI). The French lender announced Friday that it has entered exclusive negotiations with Morocco’s Holmarcom Group for a potential sale of its majority holding.

Holmarcom, which is already a shareholder in BMCI for the past 60 years, is the potential buyer, though the talks remain at a preliminary stage, the bank noted.

If finalized in 2026, the divestment is expected to have a positive impact of 15 basis points on the group’s common equity Tier 1 ratio, BNP Paribas added.

It is also worth noting that in December 2022, Holmarcom acquired another French-owned bank in Morocco, Crédit du Maroc (CDM).