Crédit du Maroc

Crédit du Maroc (CDM; ) is a Moroccan bank founded in 1929. Headquartered in Casablanca, it provides commercial banking services in Morocco and has operated under its current name since 1966.[1]

Crédit du Maroc has experienced several changes in ownership over time. It was previously part of international banking groups and is currently a subsidiary of the Moroccan holding group Holmarcom.[2]

Overview

Crédit 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 (Casablanca).[3]

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.[4] 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.[5]

In late April 2022, Crédit Agricole announced the sale of its 78.7 percent stake in Crédit du Maroc to the Holmarcom Group.[6][7] 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

• List of banks in Morocco

External links