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

North Africa PostComments Off on Morocco’s Holmarcom group takes control of Credit du Maroc Bank

Morocco’s Holmarcom group has taken control of Credit du Maroc, a subsidiary of French bank Credit Agricole.

Holmarcom has bought all the 78.7% stakes owned by Credit Agricole in its Moroccan branch, in a move to strengthen its foothold in the finance and insurance business.

Morocco’s Wafa Assurance and other stakeholders own 10.73% and 10.56% respectively of Credit du Maroc.

Holmarcom operates in agri-food, real estate and logistics,

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