Holmarcom Group has completed the acquisition of Crédit Agricole S.A.’s remaining 15% stake in Crédit du Maroc, raising Holmarcom’s total ownership to 78.7%. This follows the group’s earlier purchase of a 63.7% stake in December 2022.
Through its holding company, Holmarcom Finance Company, and subsidiary, AtlantaSanad Assurance, Holmarcom initially acquired a 63.7% stake in Crédit du Maroc. After fulfilling all regulatory conditions, the group proceeded to acquire the additional 15% stake, as per the agreed timeline, 18 months after the first acquisition. Holmarcom Finance Company now holds 65.9% of the bank’s capital, with AtlantaSanad owning 12.8%.
The transition was managed effectively, thanks to the dedication of Crédit du Maroc’s teams under Holmarcom’s supervision and Crédit Agricole S.A.’s support. This process ensured the complete operational independence of Crédit du Maroc, covering all activities, operations, and information systems.
Upon assuming control, Holmarcom launched its strategic vision to transform Crédit du Maroc into a modern, innovative financial operator committed to serving both citizens and national businesses for sustainable and responsible development. Mohamed Hassan BENSALAH, CEO of Holmarcom Group, emphasized the group’s ambition to turn Crédit du Maroc into a leading financial institution.
Holmarcom has set ambitious growth targets for Crédit du Maroc, implementing a strategic repositioning and a comprehensive development plan. This includes a new marketing and commercial policy driven by a digital transformation program and a revamp of the bank’s offerings and customer journey.
The recent improvement in Crédit du Maroc’s commercial performance and financial indicators reflects the success of the strategic choices made and the employees’ embrace of the new dynamic and changes introduced.
