Morocco’s Holmarcom group takes control of Credit du Maroc Bank

MOROCCO – Holmarcom group, an insurance and real estate company has acquired 78.7% of the shares held by the French company Credit Agricole, in its Moroccan subsidiary Credit du Maroc. The two institutions signed an agreement, allowing Credit du Maroc to become one of the subsidiaries of the Holmarcom Group. Credit du Maroc is divided between Credit Agricole (78.69%) and…

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Holmarcom group set to acquire Credit Agricole’s stakes in Credit du Maroc

MOROCCO – Holmarcom group, an insurance and real-estate company, has announced that it seeks to buy stakes held by Paris-based Credit Agricole in its Moroccan branch Credit du Maroc, a move that will significantly change the landscape of Morocco’s banking and insurance industries. “These discussions are at a preliminary stage without any certainty on their outcome. Holmarcom will communicate more…

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