At a glance
Bank of Africa is a universal banking group: retail banking, corporate banking, capital markets and insurance. A large share of its business is in sub-Saharan Africa through the Bank of Africa network.
History
Banque Marocaine du Commerce Extérieur (BMCE) was created in 1959 to finance the country’s foreign trade. It was privatised in 1995. The group then expanded into sub-Saharan Africa and in 2020 adopted the name Bank of Africa for all its activities.
Latest published results
In the first half of 2026, net income attributable to the group reached MAD 2.5 billion, up 10%. Consolidated net banking income was stable at about MAD 10.5 billion: fee income rose 10% and net interest income 7%, while capital markets revenue fell 37% after an exceptional 2025. Customer deposits rose 4% to MAD 286 billion and loans 4% to MAD 243.3 billion.
What to watch
The contribution of the African subsidiaries to earnings, and the full-year 2026 accounts.
Key dates
- 1959
Banque Marocaine du Commerce Extérieur (BMCE) is founded.
- 1972
First overseas presence: a branch in Paris.
- 1975
Listing on the Casablanca Stock Exchange.
- 1995
The bank is privatised.
- 2008
Acquires a 35% stake in the Bank of Africa group.
- 2015
Stake in Bank of Africa raised to 75%; the group becomes BMCE Bank of Africa.
- 2016
First bank to issue a green bond, at COP22.
- 2020
BMCE Bank of Africa becomes Bank of Africa – BMCE Group.
Sources: TelQuel, Bank Of Africa : le RNPG consolidé en hausse de 10 % au premier semestre 2026, September 28, 2026; Bank of Africa, histoire du groupe.
Profile updated on October 29, 2026.