Takeover of Crédit du Maroc by the Holmarcom group: only the retail bank could be affected

Takeover of Crédit du Maroc by the Holmarcom group: only the retail bank could be affected
Takeover of Crédit du Maroc by the Holmarcom group: only the retail bank could be affected
Through Ayoub Khattabi the 10/14/2021 at 3:29 p.m.

Abdellatif Jouahri, wali de Bank Al-Maghrib

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During his meeting with the media yesterday, Wednesday, October 13, the wali of Bank Al-Maghrib said that the takeover of Crédit du Maroc by the French group Crédit Agricole, if the negotiations are successful, remains conditional on obtaining a new authorization from the central bank.

“The banking law is clear on this. If there is a change of control, this will give rise to a new authorization. It is up to the Committee of Credit Institutions (reporting to the central bank, Editor’s note) to examine the file in all its components, ”said the Wali of BAM, in response to a question about the acquisition by the Holmarcom group of Credit from Morocco to the Crédit Agricole group.

For now, this operation is still at a preliminary stage, he added.

Jouahri says he was contacted by senior officials of the French group who told him of their desire to keep some assets in Morocco and that only the retail bank could be affected by this sale operation.

At the end of last September, Crédit Agricole SA confirmed via press release that it was in discussion with the Moroccan group Holmarcom, which intends to take control of Crédit du Maroc.

As a reminder, the capital of Crédit du Maroc (a bank listed on the Casablanca Stock Exchange) is divided between Crédit Agricole (78.69%), Wafa Assurance (10.73%). The rest of the shares, ie 10.56%, are held by small holders.

Par Ayoub Khattabi

Source

Takeover Crédit Maroc Holmarcom group retail bank affected

 
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