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Crédit du Maroc

Crédit du Maroc is a universal and full-service bank that covers all customer segments: individuals, professionals and businesses. Its organization relies on a commercial network that spreads throughout the country and is globally unified for all markets, in order to best serve customers.

 

Crédit du maroc

  • Crédit du Maroc (CDM)

    Created through the merger of Crédit Lyonnais Maroc and the Compagnie Africaine de Banque in 1966, Crédit du Maroc joined Crédit Agricole Group in 2003 with the acquisition of Crédit Lyonnais. In 2009, the Group increased its stake in the bank, following the disposal of the CA sub-saharan subsidiaries. CDM is listed at Casablanca Stock Exchange.

    Historically, the bank developed a model oriented on local large corporates customers. More recently, from 2005 to 2010, CDM grew rapidly on retail segment along with significant investments in the branch network. Crédit du Maroc is now ranked as the 7th Moroccan bank. The bank deploys a balanced Universal Proximity Banking model on a concentrated market led by few local players. The three French largest banking groups (Société Générale, BNPP, Crédit Agricole) are present in Morocco.

    Other Group entities present in Morocco: Amundi (34% of Wafagestion + a real-estate subsidiary), CACF (49% of Wafasalaf), CAL&F (33% of CDM Leasing + factoring launched in 2015).

  • Key figures

    Morocco: 36 million inhabitants

     

     

     

     

     

    684,152 customers
    323 branches
    2.539 employees
     
    Total assets: 5.28 bn€

    carte-maroc

     

    Performance

    • 1st certified bank on international transactions –ISO 9001 (2015 version confirmed for import and export international operations)
    • Launch of a Digital Factory
    • Best Private Bank in Morocco (source: Gobal Business 2019)

    Moody’s : Ba1
    S&P : BBB-
    Fitch : BBB-

    Source: BPI/FIN - Data at 31/12/2019

  • Key economic indicators

    MTP 2022 Strategic ambition: be the French bank of reference in Morocco

    • Intensify the development of retail segment and strengthen the bank positioning on private banking through the enhancement of the quality of service and customer satisfaction
    • Accelerate on customer acquisition
    • Broaden the corporate customer base and reinforce expertise to serve Group clients and multinational companies (MNCs)
    • Improve operational efficiency: new core banking system, program of dematerialization and digitalization of processes, new headquarters in 2021, new branch concept
    • Develop the Islamic Finance activity through the dedicated structure Arreda
  • Governance

    Organisation

    • Company name: limited company (Société Anonyme)
    • Shareholder at 31/12/2017 (Source Orion database):
      • Crédit Agricole S.A.: 78.70 %
      • Wafa Assurance: 10.69 %
      • Other: 10.61 %

     

    Crédit du Maroc Management

    • Bernard Muselet, Chairman of the board

     

    BPI Supervision

    • Stanislas Ribes - Head of BPI Supervision & Control
    • Emmanuel Arribat - Supervision Head, Morocco
  • Universal retail banking in Morocco

    Other Group businesses in Morocco :

    • Amundi (33% of Wafagestion + one real estate subsidiary)
    • CACF (49% of Wafasalaf)
    • CAL&F (33% CDM Leasing + factoring launch in 2015)
  • Key economic indicators

    Data

    France

    Morocco

    Currency

    EUR

    MAD

    Population (in millions)

    64.8

    35.6

    Population growth rate

    0.4

    1.3

    Nominal GDP (in USD billions)

    2,707

    119

    Real GDP growth, annual (%)

    1.3

    2.2

    Nominal GDP growth (%)

    2.4

    3.5

    GDP per inhabitant, current USD

    41,761

    3,345

    Inflation rate

    1.3

    0.0

    Unemployment (%)

    9.1

    9.8

    National saving rate

    22.8

    29.9

    Household savings rate

    14.9

    nd

    Budget deficit/GDP (%)

    -3.0

    -4.1

    source : FMI, ECO / Crédit Agricole S.A (Data at end 2019)

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