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Crédit du Maroc - Wikipedia

  • ️Mon Feb 15 2021

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Crédit du Maroc

Former Casablanca branch of Crédit Lyonnais, part of the CDM head office complex

Company typeSociété Anonyme
IndustryBanking
Founded1929
Headquarters48–58 Bd Mohammed V, Casablanca, Morocco
Revenue2.45 billion dirhams – Net Banking Income (2021)
627.39 million dirhams (2021)
ParentHolmarcom Group
Websitewww.creditdumaroc.ma

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.

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 [fr].[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.