bank of africa morroco

What bank of africa morroco does

Bank of Africa Morocco is a Casablanca-headquartered, publicly-listed (Casablanca Stock Exchange, 1975) pan-African banking group operating across 32 countries in Africa, Europe, Asia, and North America. Founded in 1959 and privatized in 1995, the group serves approximately 6.6 million clients through an integrated platform combining a Moroccan branch network, roughly 2,000 points of sale continent-wide, and digital channels including the BMCE Direct web and mobile platform, DabaPay, Daba Transfer, and the KODI chatbot. Its service offering spans current accounts, savings, consumer and mortgage credit, payment cards, insurance distribution, leasing, factoring, consumer credit, investment banking, and Sharia-compliant banking through wholly- and majority-owned subsidiaries including BMCE Capital (investment banking), Maghrebail (24.62% leasing market share), Salafin (consumer credit), Maroc Factoring, RM Experts, Bank Al Karam, and a 72.41% controlling stake in BOA Group (pan-African West, East, Central, and Southern Africa).

The group's revenue is generated primarily through net interest margins on lending products, fee and commission income from transaction services and account management (subscription packs at MAD 15, 25, and 35 per month for professional banking), card interchange, and specialized financing subsidiaries. In FY2023, consolidated net banking income reached MAD 16.9 billion (+9% YoY) with net income attributable to shareholders of MAD 2.8 billion versus MAD 2.3 billion in 2022. Capital has been supplemented by a 2013 USD 300 million Eurobond issuance and a EUR 70 million facility from the EBRD, EU, and Green Climate Fund under the PFEV Plus program for climate-resilience lending.

Customer segmentation is hybrid: retail individuals, students aged 16–25, professionals and very small enterprises (TPE/TPME), civil servants with dedicated subsidized mortgage products (Salaf Imtilak, Adl Sakane, Asseha Sakane), enterprises, private banking clients, and the "Marocains du Monde" (MRE) diaspora served through dedicated international subsidiaries in Europe (UK, France, Belgium, Netherlands, Spain), Canada, and China (Shanghai, opened 2019). Distribution is omnichannel, combining physical branches, ATMs, BMCE Direct digital banking, video-based remote onboarding, WhatsApp Business support, and partnership channels with Maroc PME, Visa, Air Arabia, and Accor.

Name

bank of africa morroco

Legal name

BANK OF AFRICA (formerly BMCE BANK), Limited company with capital of 2,202,818,810 Dirhams

Website

https://bmcebank.ma

Company type

Public

Founded year

1959

Operating status

Operating

Short description

Bank of Africa Morocco is a Casablanca-headquartered pan-African banking group serving 6.6 million clients across 32 countries, offering retail, professional, enterprise, civil servant, and Moroccan diaspora banking through digital platforms, branches, and subsidiaries spanning lending, leasing, factoring, and investment banking.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218), Savings Institutions and Other Depository Credit Intermediation (522180), Credit Card Issuing (52221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Islamic SME & Commercial Banking (FSABAGAB)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Retail banking services
• Corporate banking solutions
• Diaspora remittance banking
• Consumer credit financing
• Investment banking services

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Banking Income: Core banking revenue from interest margins on lending products (consumer credit, mortgage loans, professional financing), commission income from transaction services, and account management fees. In 2023, consolidated net banking income reached MAD 16.9 billion with 9% year-over-year growth.
2. Professional Account Services: Monthly pack fees for business accounts (Essentiel 15 DH, Classic 25 DH, Gold 35 DH per month), transaction fees for business banking services, and payment processing services.
3. Card Services: Revenue from payment card transactions, interchange fees, and card-related services including prepaid cards and credit facilities attached to cards.
4. Insurance Distribution: Distribution of insurance products including Salama assistance insurance for diaspora, Assistance Monde coverage, and other protection products through the banking network.
5. Investment Banking: Revenue from BMCE Capital subsidiary covering financial advisory, asset management, stock exchange intermediation, and capital market operations.
6. Specialized Finance: Revenue from leasing through Maghrebail, factoring through Maroc Factoring, consumer credit through Salafin, and participatory banking through Bank Al Karam.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels9 records

Core offering

Bank of Africa Morocco provides retail, private, and business banking services across Morocco and 31 other countries. Its offerings span current and savings accounts, consumer and mortgage loans, payment cards, professional banking packs, trade and corporate finance, leasing, factoring, investment banking through BMCE Capital, and Sharia-compliant banking via Bank Al Karam. Customers access the bank through an extensive branch network, BMCE Direct web/mobile platforms, and dedicated MRE (Moroccan diaspora) services.

Product overview

BANK OF AFRICA is a multi-business, multi-brand pan-African banking group offering a comprehensive portfolio of banking and financial products across retail, professional, corporate, and private banking segments. The core digital platform is BMCE Direct, supplemented by specialized mobile applications including DabaPay, DabaPay PRO, and Daba Transfer for payments and remittances. Consumer and mortgage lending is delivered through Crédit Daba, Crédit Habitat PRO, and Crédit Conso PRO, while specialized credit products serve civil servants (Salaf Imtilak, Adl Sakane, Asseha Sakane) and students. The card portfolio includes prepaid cards (GOAL 25, FastPay), student cards (Jeunes Campus), and premium options (FIRST, Visa Opale). MRE customers are served through dedicated packs (Blue, First, Signature) and assistance products (Salama, Assistance Monde). Professional services include BMCE Direct Pro, Intelak Likoum, and DAMANE MANDAT EXPRESS. The group operates multiple subsidiaries including BMCE Capital (investment banking), MAGHREBAIL (leasing), SALAFIN (consumer credit), MAROC FACTORING (factoring), RM EXPERTS (collections), and Bank Al Karam (participatory banking), with international presence through BOA Group, BANK OF AFRICA UK, BANK OF AFRICA Europe, BMCE Euroservices, and BANK OF AFRICA Shanghai.

Differentiator

Problem solved

Functional benefit

Brands

• BMCE CAPITAL: Investment banking division of BANK OF AFRICA Group, offering financial consulting, asset management, stock exchange intermediation, financial research, private wealth management, and capital market solutions.
• MAGHREBAIL
• SALAFIN
• MAROC FACTORING
• RM EXPERTS
• Bank Al Karam
• BMCE EUROSERVICES
• BMCE Direct
• DabaPay
• Daba Transfer
• BMCE Direct Pro
• BANK OF AFRICA UK
• BANK OF AFRICA Europe
• BOA Academy

Products and services

• BMCE Direct
• Professional Banking Packs (Essentiel, Classic, Gold)
• Crédit Daba
• Crédit Habitat PRO Modular home loan product for self-employed professionals with flexible repayment terms and online application capabilities.
• Crédit Conso PRO Amortizable consumer loan product for professionals with competitive rates and extended repayment periods.
• Salaf Imtilak Subsidized home loan product for civil servants affiliated with Fondation Mohammed VI de POSEF with terms adapted to public sector employment.
• Adl Sakane Subsidized mortgage product for magistrates and judicial civil servants with personalized support throughout the property acquisition process.
• Asseha Sakane Fixed-rate subsidized mortgage for public sector and healthcare workers to finance primary residence purchase or construction.
• Pack Jeunes Campus Comprehensive free banking package for students aged 16-25 offering a free current account, international Visa debit card, and BMCE Direct access.
• Pack Blue (MRE) Entry-level banking package for Moroccan diaspora (MRE) customers with basic banking services and competitive international transfer rates.
• Pack First (MRE) Mid-tier banking package for Moroccan diaspora customers with enhanced benefits, premium Visa First card, and dedicated services.
• Pack Signature (MRE) Premium banking package for high-tier Moroccan diaspora customers offering exclusive privileges and personalized services.
• Fonctionnaire Pack Lifetime-free comprehensive banking package for civil servants including account maintenance, Visa Opale card, BMCE Direct access, and preferential civil servant credit products.
• Salama Assistance Worldwide assistance insurance product for Moroccans residing abroad providing coverage for death, health emergencies, repatriation, vehicle assistance, and legal support with 24/7 service.
• Assistance Monde Worldwide assistance insurance package covering breakdowns, theft, accidents, hospitalization, and death with 24/7 support in Morocco and Europe.
• Intelak Likoum Business financing solution for entrepreneurs with competitive terms and dedicated relationship-manager support.
• Crédit Business Online Online credit platform for businesses to access and manage business loans digitally.
• Carte GOAL 25 (Visa Prepaid) Prepaid Visa card associated with Africa Cup of Nations 2025, rechargeable in real time, usable in stores and online, up to 20,000 DH balance, no bank account required.
• Carte FIRST (Visa Premium) Premium Visa card offered to private banking customers with exclusive benefits, concierge services, and worldwide acceptance.
• Daba Transfer Money transfer service designed for Moroccans living abroad (MRE) to send funds to Morocco via mobile application.
• DabaPay Mobile payment and transfer application for individuals and merchants enabling instant transfers and payments.
• DabaPay PRO Professional version of DabaPay offering enhanced transfer capabilities for business users with instant transfers and competitive rates.
• Damane Mandat Express Global money disbursement solution enabling beneficiaries worldwide to withdraw cash at DAMANE CASH agents, GAB ATMs, or BANK OF AFRICA branches.
• BMCE Capital Investment Banking Investment banking subsidiary offering financial consulting, asset management, stock exchange intermediation, financial research, private wealth management, and capital market solutions organized across eight business lines.
• MAGHREBAIL Leasing Leasing subsidiary specializing in capital goods and real estate leasing for professionals and companies, with 24.62% market share in the Moroccan leasing sector.
• SALAFIN Consumer Credit Consumer credit subsidiary offering personal loans and financing solutions to individuals.
• MAROC FACTORING Factoring subsidiary providing non-payment risk guarantees, commercial receivable financing, and receivables portfolio management for companies.
• Bank Al Karam (Participatory Banking) Sharia-compliant participatory bank launched in December 2017 in partnership with Al Baraka Bank Group offering Islamic banking products and services.
• BMCE Euroservices Money Transfer Money transfer subsidiary dedicated to Moroccan and African migrants across Belgium, Spain, France, Netherlands, and Canada.
• Study Financing (Maroc et Étranger) Education financing credit solutions for students pursuing studies in Morocco or abroad with flexible repayment terms.

Quantifiable outcome

• Consolidated net banking income of MAD 16.9 billion in 2023, representing 9% growth
• +4 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

16 partnerships are on record, tiered flagship, core, regional and minor.

• Maroc PMEflagshipStrategic or Co-development Partner · 8 July 2026Over 20 years of partnership to support TPME (very small enterprises) through the Pacte TPME program offering integrated financing, expertise, advisory, and ecosystem connections. Jointly organized Rencontres Nationales de la TPME 2026.
• Réseau Entreprendre MaroccoreStrategic or Co-development Partner · 8 July 2026Partnership for entrepreneurial support and business development services for TPME segment.
• FENAGRIcoreStrategic or Co-development Partner · 8 July 2026Agricultural sector partnership for sustainable development and agribusiness financing.
• IZDIHARregionalStrategic or Co-development Partner · 8 July 2026Casablanca industrial zone partnership for proximity services to businesses.
• AZIANregionalStrategic or Co-development Partner · 8 July 2026Casablanca industrial zone partnership for business support services.
• CFCIMregionalStrategic or Co-development Partner · 8 July 2026Casablanca French Chamber of Commerce partnership for business development.
• Accor HotelscoreGTM or Marketing Partner · 1 July 2026Hotel discount partnership offering 10-20% reduction on Accor hotel bookings for new account holders. Valid July 1 to September 30, 2026.
• VisaflagshipGTM or Marketing Partner · 1 July 2026Long-standing payment partnership including FIFA World Cup 2026 promotion, Ramadan campaigns with 10,000 DH daily prizes, and ongoing card benefits and cashback programs.
• Bank of PalestinecoreStrategic or Co-development Partner · 7 May 2024Multidimensional strategic partnership between two leading African financial institutions for cross-border banking services.
• Air ArabiacoreGTM or Marketing PartnerFlight discount partnership for diaspora clients offering up to 30% reduction on Air Arabia bookings.
• RMA ASSURANCEcoreTechnology or IntegrationInsurance partner for Salama assistance product covering health, repatriation, vehicle assistance, and legal support for diaspora clients.
• AML (Shipping Company)minorChannel Partner/ Reseller/ DistributorPresence on AML ships for diaspora banking services during travel to Morocco.
• Fondation Trophées Marocains du MondeminorStrategic or Co-development PartnerInvestment seminars partnership for diaspora clients.
• Hassan II UniversitycoreStrategic or Co-development PartnerCo-host of 2nd GI-WATER Symposium through Pan-African Chair for Sustainability and Impact Finance.
• ISCAEcoreStrategic or Co-development PartnerPartnership with Institut Supérieur de Commerce et d'Administration des Entreprises for Pan-African Chair for Sustainability and Impact Finance.
• Observatoire Africain de la FinancecoreStrategic or Co-development PartnerCo-organization of finance sustainability events and research initiatives.

Scale indicators11 records

Recent moves17 records

Expansion highlights6 records

Direct peers

• Attijariwafa Bank: Largest private Moroccan banking group with dominant domestic market share, extensive pan-African presence through Attijariwafa Africa, and full retail/corporate/investment banking offering. Directly comparable on geography, business mix, and pan-African expansion strategy.
• Banque Populaire du Maroc: Major Moroccan cooperative/retail bank with strong domestic network, particularly in retail and SME banking. Directly comparable as one of the top Moroccan banks competing with BANK OF AFRICA across retail, professional, and enterprise segments.
• BMCI - Banque Marocaine du Commerce et de l'Industrie: Moroccan subsidiary of BNP Paribas offering universal banking. Direct competitor in Morocco's corporate, retail, and private banking segments, with similar product breadth and digital channels.
• Société Générale Maroc: Moroccan subsidiary of Société Générale providing retail, corporate, and investment banking. Directly comparable in Moroccan market positioning, customer segments, and product portfolio.
• CIH Bank: Moroccan commercial bank historically focused on housing finance but expanding into full-service retail and corporate banking. Comparable in Moroccan retail/professional banking and mortgage lending.
• Al Baraka Bank: Pan-Islamic banking group that is joint venture partner with BANK OF AFRICA in Bank Al Karam. Directly comparable in Islamic/participatory banking products and pan-African footprint (especially in North and Sub-Saharan Africa).
• Ecobank Transnational Incorporated: Pan-African banking group with presence across 30+ African countries offering retail, corporate, and investment banking. Closest pure pan-African comparable given the geographic scope and multi-country subsidiary model.

Broad incumbents

• Standard Bank Group: Largest African bank by assets with operations across Sub-Saharan Africa and emerging markets. Comparable pan-African and international footprint, particularly in investment banking and corporate finance, but with deeper scale and a stronger South African base.
• Absa Group: Pan-African financial services group with retail and corporate banking across multiple African markets. Comparable geographic diversification strategy and subsidiary structure, though anchored in South Africa rather than North/West Africa.

Emerging players

• Banco de Sabadell (international/Maghreb presence): Spanish bank with selective presence in Morocco and North Africa. Adjacent comparable given geographic and diaspora overlap with BANK OF AFRICA's European/Mediterranean franchise and Moroccan diaspora focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Bank_OfAfrica
• YouTubeyoutube.com/@BMCEBankOfAfrica
• Facebookweb.facebook.com/BMCEBankOfAfrica
• LinkedInlinkedin.com/company/bank-of-africa-bmce-group
• Instagraminstagram.com/bank_of_africa
• TikToktiktok.com/@bank_of_africa

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about bank of africa morroco