BMCI sells Arval Maroc stake as ownership structure shifts. The Banque Marocaine du Commerce et de l\u2019Industrie (BMCI) has agreed to transfer its entire holding in Arval Maroc to the French company Arval Service Lease. The agreement was signed on June 29 and announced through a statement published by Morocco\u2019s Capital Market Authority.<\/p>\n
The transaction concerns 33.33% of Arval Maroc\u2019s share capital and voting rights. BMCI stated that the sale is not expected to have a significant effect on its consolidated financial statements.<\/p>\n
Arval Maroc operates in the long-term vehicle leasing and corporate fleet management sector. The company launched operations in October 2002 through cooperation between BMCI and Arval, both part of the BNP Paribas group at the time. Arval Maroc has share capital of MAD 30 million and employs 60 people.<\/p>\n
The company currently manages more than 6,000 vehicles throughout Morocco, representing around 18% of the national long-term leasing market. Its parent company, Arval, is active in 39 countries through 25 subsidiaries and oversees a fleet exceeding 725,000 vehicles worldwide. Morocco marked Arval\u2019s first expansion outside Europe before the group entered markets including Brazil, Russia, India, Turkey, and China.<\/p>\n
The divestment comes amid broader changes in BMCI\u2019s shareholder structure. On April 29, BNP Paribas and Holmarcom Finance Company announced an agreement under which Holmarcom Finance Company would acquire BNP Paribas\u2019s 67% controlling stake in BMCI. Exclusive negotiations between the parties began in December 2025.<\/p>\n
The transaction remains subject to approval from Bank Al-Maghrib and Morocco\u2019s Competition Council and is expected to close during the fourth quarter of 2026. BNP Paribas said the deal would have an estimated impact of around 15 basis points on its CET1 capital ratio.<\/p>\n
BNP Paribas described the move as a repositioning rather than a complete withdrawal from Morocco. The group confirmed it will continue corporate and investment banking activities through BNP Paribas CIB. It also stated that it will maintain its vehicle leasing operations in the country through Arval Morocco.<\/p>\n
The sale of BMCI\u2019s stake in Arval Maroc is consistent with that strategy. By transferring ownership to Arval Service Lease, the leasing business remains within the BNP Paribas group while BMCI prepares for its transition to Holmarcom control.<\/p>\n","protected":false},"excerpt":{"rendered":"
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