Bank Of Africa

What Bank Of Africa does

Bank of Africa (formerly BMCE Bank) is a Morocco-headquartered, Casablanca Stock Exchange-listed universal bank founded in 1959 and operating as a pan-African banking group across 32 countries. The group serves approximately 6.6 million retail, SME, corporate, and institutional customers through a network of more than 1,800 points of sale in Africa, complemented by international offices in Paris, London, Madrid, Brussels, Zurich, Montreal, and Shanghai. Business lines span retail and commercial banking, consumer finance, leasing, factoring, investment banking (via subsidiary BMCE Capital), and Islamic banking (via the Banque Al Karamah / BTI Bank joint venture with Al Baraka Bank Group).

The group's technology stack centers on a multi-channel banking architecture: BMCE Direct delivers 24/7 web and mobile banking across iOS, Android, and Huawei AppGallery; DabaPay provides mobile payments and cardless ATM withdrawals; Crédit Daba and Crédit Habitat offer fully digital consumer-loan and mortgage application processes with instant decisioning; BMCE Euroservices handles cross-border money transfers for the European and Canadian diaspora; and KODI chatbot supports customer inquiries via web and WhatsApp. Subsidiary platforms include MAROC FACTORING, SALAFIN (consumer credit), and MAGHREBAIL (leasing, 24.62% Moroccan market share). The bank was the first MENA institution to receive ISO 14001 environmental certification (2011) and issued the first Moroccan-bank green bond in 2016.

Bank of Africa earns revenue predominantly from net interest income on retail and corporate lending (consumer credit priced at 6.25% TEG up to MAD 500,000), transaction and account fees, trade finance (supported by a €70M African Development Bank facility expected to catalyze ~€300M in SME trade over 3.5 years), investment-banking fees via BMCE Capital, and remittance income through BMCE Euroservices. The FY2025 fiscal year produced consolidated net banking income of MAD 20.3 billion (+9% year-over-year) and net income of MAD 3.8 billion (+11% year-over-year) on approximately 15,300 employees. The board has proposed a MAD 5/share dividend and a MAD 1.091 billion capital increase via incorporation of reserves and bonus-share issuance. Recent strategic moves include the Zurich representative office (April 2026), MoUs signed at the CASI Sustainability Forum (July 2026), a partnership with the Morocco Fintech Center at GITEX AFRICA 2026, and a 1.2% equity stake acquired in Bank of Palestine (May 2024).

Name

Bank Of Africa

Legal name

Bank Of Africa - BMCE Bank (شركة مجهولة الاسم برأس مال قدره 2.056.066.480 درهم)

Website

https://bankofafrica.ma

Company type

Public

Founded year

1959

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bank of Africa is a Casablanca-listed Moroccan pan-African banking group operating in 32 countries, serving roughly 6.6 million retail, SME, corporate, and institutional customers via 1,800+ points of sale, digital banking platforms, investment banking, leasing, factoring, and Islamic-banking subsidiaries.

Ownership category

akta.pro rank

Product category

Pan-African Retail and Corporate Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Islamic Retail Banking (FSABAGAA), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• Corporate banking solutions
• Trade finance facilitation
• Pan-african banking network
• Digital mobile payments

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Net Interest Income: Interest income from lending activities including consumer credit, mortgages, and business loans. Consumer credit rate at 6.25% TEG with amounts up to 500,000 DH.
2. Transaction and Commission Fees: Fees from banking transactions, account management, card payments, international transfers, and various banking services
3. Trade Finance: Trade finance facilitation generating fees and interest from trade-related financing including letters of credit, risk participation agreements, and trade credit lines
4. Investment Banking Services: Revenue from BMCE Capital operations including advisory fees, underwriting, asset management fees, and brokerage commissions

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Bank of Africa is a pan-African banking group offering retail and corporate banking products and services across 32 countries. Its core offerings include deposit and savings accounts, payment cards, consumer and mortgage credit, corporate banking and cash management, trade finance, investment banking through BMCE Capital, money transfer services (DabaPay, Daba Transfer, BMCE Euroservices), Islamic banking, leasing, and factoring. The bank serves approximately 6.6 million customers via over 1,800 points of sale and a suite of proprietary digital platforms.

Product overview

Bank of Africa is a comprehensive pan-African banking group serving approximately 6.6 million customers across 32 countries with around 15,300 employees. The group operates a multi-channel banking model combining physical branch networks (over 1,800 points of sale) with digital platforms including BMCE Direct (online/mobile banking), Crédit Habitat (digital mortgage platform), Crédit Daba (digital consumer lending), and DabaPay (mobile payments). The retail banking division offers packages for various segments including Pack Azur/Pack Classic/Pack Premium for young actives, Pack Jeunes Campus for students, Premium Banking for high-net-worth clients, and Private Banking. The group encompasses numerous subsidiaries spanning investment banking (BMCE Capital), consumer credit (SALAFIN), leasing (MAGHREBAIL), factoring (MAROC FACTORING), Islamic banking (Al Baraka Bank/BTI Bank), and international operations across Africa (BOA in 15 countries, BDM in Mali, LCB Bank in Congo), Europe (UK, Europe, Switzerland branches), and Asia (Shanghai representative office).

Differentiator

Problem solved

Functional benefit

Brands

• BMCE Direct: Digital banking platform for 24/7 account access and online banking services
• DabaPay
• Daba Transfer
• Crédit Daba
• Crédit Habitat
• Premium Banking
• BMCE Capital
• MAGHREBAIL
• SALAFIN
• MAROC FACTORING
• Banque Al Karamah

Products and services

• BMCE Direct Online and mobile banking platform enabling customers to access accounts 24/7, consult balances, conduct transactions, and manage banking operations remotely.
• Crédit Habitat Digital mortgage platform providing 100% online applications with instant decision, free file processing, and real-time application tracking through a personal space.
• Crédit Daba Online consumer lending platform offering loans up to 500,000 DH at 6.25% TEG with a fully digital application process and free processing fees for web customers.
• DabaPay Mobile payment application enabling instant money transfers, cardless ATM withdrawals, and various payment operations directly from a smartphone.
• Pack Jeunes Campus Banking package for students under 30 with free account opening, international cards, study abroad financing up to 200,000 DH, and access to digital banking services.
• Premium Banking Premium banking offering with dedicated relationship managers, tailored packages, credit and savings solutions, insurance, premium cards (Visa Gold/Platinum/Infinite, Mastercard Platinum/World) and exclusive services for high-net-worth clients.
• Daba Transfer International money transfer service designed for Moroccans abroad to send money to family in Morocco and internationally at competitive rates.
• BMCE Capital Investment banking arm of Bank of Africa offering financial advisory, asset management, brokerage, financial research, private banking, and capital markets and post-trade solutions.
• MAGHREBAIL Equipment and real estate leasing company offering professional leasing solutions, holding 24.62% market share as the second-largest player in Morocco's leasing sector.
• SALAFIN Consumer lending subsidiary offering personal loans, auto loans, and revolving credit; ranked fourth in Morocco's consumer credit sector by production volume.
• MAROC FACTORING Factoring services company providing accounts receivable management, credit risk protection against default, and commercial receivable financing for businesses.
• BTI Bank (Banque Al Karamah) Islamic banking subsidiary offering Sharia-compliant banking products and services in partnership with Al Baraka Bank Group.
• BMCE Euroservices Money transfer services for Moroccan and African migrants across Europe (Belgium, Spain, France, Netherlands) and Canada; 100% owned by Bank of Africa.
• Bank of Africa UK International bank specializing in investments in Africa, connecting international institutions and investors with diverse African investment opportunities.
• Bank of Africa Europe International banking subsidiary based in Madrid focusing on Spanish and international companies' trade finance and investment operations with Africa.
• Immo Plus in Fine Investment property mortgage product financing real estate acquisition through a savings plan, with repayment at maturity and tax deductibility benefits.
• Pack Transfert Scolarité Monthly transfer package for parents of students studying abroad, offering preferential rates on international transfers with all transfer fees included in a fixed monthly fee.
• Assistance Santé Health and travel assistance insurance covering medical expenses, hospitalization, vehicle breakdown, and accident support in Morocco, Algeria, and Tunisia, available 24/7.
• Assistance Monde Worldwide travel and health assistance insurance with medical coverage, repatriation services, vehicle breakdown assistance, and legal support globally 24/7.
• Assistance Senior Health assistance product for clients aged 50 and above, offering medical coverage in Morocco, nurse visits, ambulance transport, and funeral assistance services.

Quantifiable outcome

• 11% profit growth for 2025
• +2 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered flagship, core, strategic and minor.

• CASI (Capacity-building Alliance of Sustainable Investment)flagshipStrategic or Co-development Partner · 3 July 2026Strategic partnership for sustainable finance development across Africa, resulting in three MoUs signed at CASI Sustainability Forum in Casablanca with approximately 250 participants from 39 countries. Partnership includes joint training, professional certification, research, and cross-border knowledge exchange.
• Morocco Fintech CentercoreTechnology or Integration · 11 April 2026Partnership signed at GITEX AFRICA 2026 to strengthen Morocco's fintech ecosystem and position the country as a regional hub for financial innovation. Aims to foster synergies between regulators, fintech companies, and financial institutions while providing testing environments and support for fintech business models.
• Bank of PalestinestrategicStrategic or Co-development Partner · 7 May 2024Multidimensional strategic partnership sealed May 7, 2024, driven by shared values including commitment to sustainable development, financial inclusion, and SME support. Partnership includes 1.2% equity stake purchase in Bank of Palestine.
• Al Barid Bank GroupcoreOthersPart of Bank of Africa Group ecosystem, Al Barid Bank provides additional banking services and ATM network access across Morocco.
• RMA ASSISTANCEminorOthersInsurance assistance partner providing coverage for health, repatriation, vehicle breakdown, and legal assistance services for bank's insurance products.

Scale indicators10 records

Recent moves17 records

Expansion highlights5 records

Direct peers

• Attijariwafa Bank: Morocco's largest banking group, operating across pan-African, European, and Middle Eastern markets with retail, corporate, and investment banking services. Direct domestic competitor to Bank of Africa in Morocco with a similar pan-African expansion strategy, comparable product suite, and overlapping customer segments including Moroccans abroad.
• Banque Populaire du Maroc: Major Moroccan banking group with strong cooperative and retail banking presence, as well as pan-African subsidiaries. Competes directly with Bank of Africa in Moroccan retail and SME banking and shares the strategic priority of African continental expansion through subsidiary networks.
• Ecobank Transnational Incorporated: Pan-African banking group with presence in over 30 African countries offering retail, commercial, and investment banking. Competes with Bank of Africa's BOA subsidiary across multiple West and Central African markets and shares a similar cross-border trade finance value proposition.
• Standard Bank Group: Africa's largest banking group by assets, headquartered in South Africa with operations across 20+ African countries and international presence. Competes with Bank of Africa in corporate banking, investment banking, and trade finance across the continent, particularly for multinational and institutional clients.
• BMCI (Banque Marocaine du Commerce et de l'Industrie): Moroccan commercial bank majority-owned by BNP Paribas, serving retail, corporate, and SME clients in Morocco. Directly competes with Bank of Africa in Moroccan retail and corporate banking and shares exposure to Moroccan economic cycles and regulatory framework.
• Société Générale Marocaine de Banques (SGMB): Moroccan subsidiary of Société Générale group offering retail, corporate, and investment banking. Competes with Bank of Africa in Moroccan retail deposits, SME lending, and corporate banking services, with a similar international banking group affiliation.
• Absa Group: Pan-African financial services group with presence across multiple African countries offering retail, corporate, and investment banking. Competes with Bank of Africa in cross-border African banking, particularly in trade finance and corporate banking for multinational clients.

Regional players

• Banque Misr: One of Egypt's largest state-owned commercial banks with a growing pan-African presence through subsidiaries and correspondent relationships. Operates in a similar North African/African banking space but primarily serves Egyptian and MENA markets rather than directly competing with Bank of Africa's Moroccan/Sub-Saharan footprint.

Broad incumbents

• Nedbank Group: South African banking group with pan-African expansion ambitions through subsidiaries and representative offices. Overlaps with Bank of Africa in the broader African corporate banking and trade finance space, though primarily focused on Southern African markets.

Others

• British International Investment: UK development finance institution and existing partner/investor in Bank of Africa. Relevant peer as a strategic capital partner providing patient development capital for African financial services expansion, sharing similar pan-African development mandates and ESG/sustainability frameworks.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Bank_OfAfrica
• YouTubeyoutube.com/@BMCEBankOfAfrica/featured
• Facebookfacebook.com/BMCEBankOfAfrica
• LinkedInlinkedin.com/company/bank-of-africa-bmce-group
• Instagraminstagram.com/bank_of_africa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries13 records

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank Of Africa