Crédit du Maroc (CDM, Arabic: مصرف المغرب) is a Moroccan bank, established in 1929 as the Moroccan subsidiary of Paris-based Crédit Lyonnais and known under its current name since 1966.
 | |
 Former Casablanca branch of Crédit Lyonnais, part of the CDM head office complex | |
| Company type | Société Anonyme |
|---|---|
| Industry | Banking |
| Founded | 1929 |
| Headquarters | 48–58 Bd Mohammed V, Casablanca, Morocco |
| Revenue | 2.45 billion dirhams – Net Banking Income (2021) |
| 627.39 million dirhams (2021) | |
| Parent | Holmarcom Group |
| Website | www.creditdumaroc.ma |
Overview
editCrédit Lyonnais established its subsidiary in Casablanca in 1929. In 1950, it relocated to a new head office building designed by architect Edmond Brion on the prestigious boulevard Mohammed V.[1]
In 1966, in response to the newly independent Moroccan government's push for marocanisation or shedding the colonial legacies in its banking sector, the operation was renamed Crédit du Maroc.[2] Crédit Agricole became CDM's owner following its purchase of Crédit Lyonnais in 2003.
In February 2021, Crédit du Maroc signed a partnership with the National Agency for the Promotion of Employment and Skills (Anapec) to work on promoting entrepreneurship.[3]
In late April 2022, Crédit Agricole announced the sale of its 78.7 percent stake in Crédit du Maroc to the Holmarcom Group.[4][5] A new visual identity was adopted by Crédit du Maroc following that change of ownership.
The International Bank of Tangier (BIT) and SIFIM are subsidiaries of the CDM Group.
See also
editReferences
edit- ^ Mohammed Daoudi (14 August 2024). "Mohammed V Boulevard walk - from Casa Voyageurs to United Nations square". Mrrakc.
- ^ "« Crédit du Maroc, 90 ans d'histoire » Une exposition* évènement pour célébrer l'ancrage d'une banque dans l'histoire du Maroc". Crédit du Maroc. 2019.
- ^ "Crédit du Maroc/Anapec: New Partnership to Support Business Creation in Morocco". fnh.ma. Retrieved 2021-02-15.
- ^ "Crédit Agricole to Disengage from its Moroccan Retail Banking Subsidiary". LEFIGARO. 2022-04-27. Retrieved 2022-04-29.
- ^ "Crédit Agricole sells its subsidiary Crédit du Maroc". Les Echos. 2022-04-28. Retrieved 2022-04-29.
External links
edit
 | This Morocco-related article is a stub. You can help Wikipedia by expanding it. |
  | This bank and insurance-related article is a stub. You can help Wikipedia by expanding it. |