# BMCI

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Moroccan bank

BMCI BMCI building in Casablanca Native name Banque marocaine pour le commerce et l'industrie Type Société anonyme Traded as BSI ISIN MA0000010811 Industry Financial services Key people Mourad Cherif Joël Sibrac Hicham Seffa Total assets approx. MAD 9.5 billion[1] Owner BNP Paribas Website www.bmci.ma

The **Banque Marocaine pour le Commerce et l'Industrie** (**BMCI**, lit. 'Moroccan Bank for Commerce and Industry') is a bank in Morocco, headquartered in Casablanca. It is majority-owned subsidiary of Paris-based [BNP Paribas](/source/BNP_Paribas) (BNPP), and originates from the Moroccan operations of a predecessor of BNPP, the [Banque Nationale pour le Commerce et l'Industrie](/source/Banque_Nationale_pour_le_Commerce_et_l'Industrie) (BNCI).

BMCI subsidiaries include Arval Morocco, BMCI Bourse, BMCI Finance, BMCI Leasing Auto, BMCI Gestion, BMCI Assurance, BMCI Crédit Conso, BMCI Banque Offshore, and BMCI NAJMA.

## History

In July 1940, facing challenging prospects at home following the [German invasion of France](/source/Battle_of_France), the Paris-based BNCI acquired the [Banque de l'Union Nord-Africaine](https://en.wikipedia.org/w/index.php?title=Banque_de_l%27Union_Nord-Africaine&action=edit&redlink=1) (BUNA) in Algiers to develop its activity outside Europe, renamed it *Banque Nationale pour le Commerce et l'Industrie en Afrique* (BNCI-A), and opened a branch in Casablanca.[2] The Moroccan activity became a fully-fledged bank in 1943.[3]

In 1950, BNCI-Afrique inaugurated a high-rise head office building on Casablanca's [Place de France](/source/United_Nations_Square_(Casablanca)). French architect [Alexandre Courtois](https://en.wikipedia.org/w/index.php?title=Alexandre_Courtois_(architect)&action=edit&redlink=1) [[fr](https://fr.wikipedia.org/wiki/Alexandre_Courtois_(architecte))] had won the design competition in 1942,[4] and moved to Casablanca in 1943 to oversee the construction works.[5]: 23

In 1964, the newly independent Moroccan government implemented a policy of *marocanisation* of the banking sector, aimed at shedding colonial legacies. In that context, BNCI renamed its Moroccan operations as BMCI,[2] even though it retained ownership. BMCI listed on the [Casablanca Stock Exchange](/source/Casablanca_Stock_Exchange) in February 1972.[6]

Meanwhile, the [Banque de Paris et des Pays-Bas](/source/Banque_de_Paris_et_des_Pays-Bas) (BPPB) had started financing the Moroccan Sultanate in 1902, and from 1907 was the controlling shareholder of the [State Bank of Morocco](/source/State_Bank_of_Morocco). It developed its activity through two major holding entities, the [Compagnie générale du Maroc](/source/Compagnie_g%C3%A9n%C3%A9rale_du_Maroc) (Génaroc) and the [Omnium Nord-Africain](/source/Omnium_Nord-Africain). In 1950 it opened its first branch in Casablanca, which in 1974 merged with operations of [Banque Worms](/source/Banque_Worms) to form the *Société Marocaine de Dépôt et de Crédit*. These operations were absorbed by BMCI in 2000 following the merger of [BNP](/source/Banque_Nationale_de_Paris) (which had succeeded BNCI in 1966) with BPPB (then known as Paribas) to form [BNP Paribas](/source/BNP_Paribas). In November 2001, BMCI also acquired ABN Amro Bank Maroc to consolidate its position in the Morocco financial services market.[*[citation needed](https://en.wikipedia.org/wiki/Wikipedia:Citation_needed)*]

As of December 2014[\[update\]](https://en.wikipedia.org/w/index.php?title=BMCI&action=edit), [BNP Paribas](/source/BNP_Paribas) retained 65.03 percent of BMCI's total equity. Other shareholders included [AXA](/source/AXA) Assurance Maroc (9.11 percent), Sanad Assurance (5.84 percent), Atlanta Assurance (4.44 percent) and Holmarcom (2.41 percent).

## See also

- [Banks portal](https://en.wikipedia.org/wiki/Portal:Banks)

- [List of banks in Morocco](/source/List_of_banks_in_Morocco)

## References

1. **[^](#cite_ref-1)** ["CDG Capital Bourse"](https://web.archive.org/web/20141229150833/https://www.cdgcapitalbourse.ma/trader/market/MA0000010811/XCAS/ISIN). *cdgcapitalbourse.com*. 28 December 2014. Archived from [the original](http://www.cdgcapitalbourse.ma/trader/market/MA0000010811/XCAS/ISIN) on 29 December 2014. Retrieved 28 December 2014.

1. ^ [***a***](#cite_ref-BNPPhist_2-0) [***b***](#cite_ref-BNPPhist_2-1) ["BNCI, quand l'internationalisation passait par l'Afrique"](https://histoire.bnpparibas/bnci-quand-linternationalisation-passait-par-lafrique/). *BNP Paribas*. 13 December 2021.

1. **[^](#cite_ref-3)** ["Histoire du Groupe BMCI"](https://www.bmci.ma/nous-connaitre/le-groupe-bmci/histoire-groupe-bmci/). *BMCI*.

1. **[^](#cite_ref-4)** ["Alexandre Courtois"](https://expositions-virtuelles.citedelarchitecture.fr/portraits_architectes/coual.php). *Cité de l'Architecture et du Patrimoine*.

1. **[^](#cite_ref-5)** Jean-Louis Cohen & Monique Eleb (1999), *Portrait de ville : Casablanca*, Paris: Institut Français d'Architecture

1. **[^](#cite_ref-6)** ["BMCI"](https://www.ammc.ma/fr/espace-emetteurs/bmci). *Autorité Marocaine du Marché des Capitaux*.

## External links

- [Official website](http://www.bmci.ma/)

- (in French) [2008 Annual Report](http://compresse.bnpparibas.com/applis/WBMCI/Maroc.nsf/docsByCode/FRFHIE-6Q4H8W/$FILE/RA%20BMCI%202008.pdf)

- (in French) [Statistics at the Casablanca Stock Market (Bourse)](http://www.boursomaroc.com/index.php?do=detailaction&id=13&name=BMCI)

v t e MADEX companies of Morocco Attijariwafa Bank Banque Populaire du Maroc BMCE Bank BMCI Compagnie de Transports au Maroc Crédit du Maroc Crédit Immobilier et Hôtelier Holcim Lafarge Ciments Managem Maroc Telecom SAMIR Société Nationale d'Investissement Sonasid Wafa Assurance

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