Crédit du Maroc explained

Crédit du Maroc
Headquarters:48-58 Bd Mohammed V, Casablanca, Morocco
Subsidiaries:International Bank of Tangier (BIT)
SIFIM
Revenue:2.45 billion dirhams - Net Banking Income (2021)
Market Cap:6.52 billion dirhams (2022)
Net Income:627.39 million dirhams (2021)
Website:www.creditdumaroc.ma

Crédit du Maroc (CDM; Arabic: مصرف المغرب) is a Moroccan commercial bank founded in 1929.

Long owned by the giant Crédit Agricole S.A., it has been owned by the Holmarcom Group since April 2022.[1]

History

In February 2021, Crédit du Maroc signed a partnership with the National Agency for the Promotion of Employment and Skills (Anapec) to work on promoting entrepreneurship.[2]

At the end of April 2022, Crédit Agricole announced its complete disengagement from Crédit du Maroc, of which it held 78.7% of the capital, in favor of the Holmarcom Group.[3]

Notes and References

  1. Web site: Crédit Agricole sells its subsidiary Crédit du Maroc . Les Echos . 2022-04-28 . 2022-04-29.
  2. Web site: Crédit du Maroc/Anapec: New Partnership to Support Business Creation in Morocco . fnh.ma . 2021-02-15.
  3. Web site: Crédit Agricole to Disengage from its Moroccan Retail Banking Subsidiary . LEFIGARO . 2022-04-27 . 2022-04-29.