French Group BNP Paribas to Exit BMCI Bank in Morocco

BNP Paribas, a prominent French banking group, is preparing to finalize its exit from the Moroccan bank BMCI (Banque Marocaine du Commerce et de l'Industrie) by the end of December 2026. The group will transfer its 66.74% stake to Holmarcom Finance Company, the financial arm of the Moroccan Holmarcom Group. This move is expected to bolster BNP Paribas' financial resilience and reshape the competitive landscape in Morocco's banking sector, following Holmarcom's acquisition of Banque Marocaine.

The transaction is anticipated to increase BNP Paribas' Common Equity Tier 1 (CET1) ratio by 15 basis points, helping it surpass the 13% financial resilience threshold by the end of the year. This comes after BNP Paribas' acquisition of Athlon, which reduced its CET1 ratio by 15 basis points. The exit from BMCI will improve the CET1 ratio by removing the bank's assets and risks from BNP Paribas' regulatory capital requirements, though it does not necessarily translate into capital gains from the sale.

The deal follows a final agreement signed on April 29, 2026, after exclusive negotiations that began on December 12, 2025. Holmarcom has been a shareholder in BMCI since the 1990s through its insurance company Atlantica Assurance, which holds 8.44% of BMCI's shares, alongside 8.90% held by AXA Assurance Maroc and 15.93% in publicly traded shares.

BNP Paribas reported a 9.5% increase in net banking income to €13.76 billion for the third quarter of 2026, with net profits rising by 13.5% to €3.46 billion. For the first nine months of 2026, net profits reached €11.02 billion, marking a 19.1% increase. Additionally, BNP Paribas announced a share buyback program worth €1.3 billion in November 2026.