Holmarcom to Acquire BNP Paribas' Stake in BMCI, Reshaping Moroccan Banking Landscape

Morocco's banking sector is set for a significant shift with the impending acquisition of BNP Paribas' stake in the Moroccan Bank for Commerce and Industry (BMCI) by Holmarcom Finance Company. This landmark deal, announced by both parties, signifies a major step in Holmarcom's strategy to bolster its presence and capabilities within the Moroccan financial landscape. The agreement not only involves the transfer of ownership but also establishes a long-term strategic partnership, ensuring continuity of services and value-added benefits for customers of both BMCI and BNP Paribas in Morocco.

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This acquisition represents a structuring step in our development path, driven by a strong ambition to build an integrated financial group centered around banking, insurance, and specialized financial services.

The transaction, slated for completion in the fourth quarter of 2026 pending regulatory approvals, will see Holmarcom acquire BNP Paribas' 67% share in BMCI. This move is poised to create a more robust and integrated financial player, combining the strengths of both entities. Holmarcom, a long-standing partner and shareholder of BMCI for over three decades, views this acquisition as a catalyst for accelerated growth and enhanced competitiveness in the Moroccan market. The integration with its existing bank, Bank of Morocco, is expected to yield a powerful banking entity with significant scale, expertise, and resources.

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We are embarking on this step with a strong conviction and firm belief that any sustainable project can only be built on a solid foundation of customer trust, and on the commitment of the group's men and women, who work daily with dedication to bring our institutions to life, thereby giving real meaning to our business, and contributing to the integration of this project within a long-term vision, and in service of the economic development of the Kingdom.

Mohamed Hassan Bensalah, Chairman and CEO of Holmarcom Group, expressed strong ambition for building a cohesive financial group centered around banking, insurance, and specialized financial services. He emphasized the importance of customer trust and the dedication of the group's employees in achieving this vision, which he believes will contribute significantly to Morocco's economic development. Thierry Laborde, Deputy General Manager of BNP Paribas, also conveyed satisfaction with the agreement, highlighting the enduring relationship between BNP Paribas and Holmarcom. This deal underscores Morocco's dynamic financial market and its attractiveness for both domestic and international investment, signaling a new era of consolidation and strategic realignment within its banking industry.

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We are pleased to conclude this agreement with Holmarcom Group, whom we have known for over 30 years as a shareholder and partner in BMCI.