Summary:

On 12 December 2025, French multinational banking group BNP Paribas announced its entrance into exclusive negotiations to divest its 67% stake in Banque Marocaine pour le Commerce et l’Industrie (BMCI). 

Morocco’s Holmarcom Group, which has already been a minority shareholder in BMCI for several decades, is the prospective buyer. BNP Paribas noted that discussions remain at an early stage and that no final agreement has been reached. 

BNP Paribas also stated that, if the transaction is completed in 2026, it would increase the bank’s Common Equity Tier 1 (CET1) capital ratio by approximately 15 basis points at the completion date. 

Outlook: 

The potential sale of BNP Paribas’ majority stake in BMCI could improve the bank’s capital efficiency and allow it to focus on its core markets, reflecting a broader strategic shift in its international operations. Such a significant shift in the CET1 ratio indicates that BNP Paribas may view BMCI as underperforming and potentially higher risk. 

For Holmarcom, acquiring a larger share would strengthen its control over BMCI, offering opportunities to integrate operations, expand market share, and strategically influence Morocco’s banking sector. 

However, the transaction’s final impact remains uncertain, as it will depend on regulatory approvals, market conditions, and the effective execution of strategic plans by both parties, making the outcome indicative of broader trends in the Moroccan banking landscape. 

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