Crédit du Maroc
From Wikipedia, the free encyclopedia
 | |
 Former Casablanca branch of Crédit Lyonnais, part of the CDM head office complex | |
| Company type | Société Anonyme |
|---|---|
| CSE: CDM | |
| Industry | Banking |
| Founded | 1929 |
| Headquarters | , Morocco |
| Revenue | 2.45 billion dirhams – Net Banking Income (2021) |
| 627.39 million dirhams (2021) | |
| Parent | Holmarcom Group |
| Website | www.creditdumaroc.ma |
Crédit du Maroc (CDM; Arabic: مصرف المغرب) 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]
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.[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.
