BMCI

BMCI

Native name	Banque marocaine pour le commerce et l'industrie
Type	Société anonyme
Traded as	BSI
ISIN	MA0000010811
Industry	Financial services
Founded	1943, merger with ABN Amro Maroc in 2001
Headquarters	26 Place des Nations Unies, Casablanca, Morocco
Key people	Mourad Cherif Joël Sibrac
Total assets	approx. MAD 9.5 billion
Owner	BNP Paribas
Website	www.bmci.ma

BMCI (French: Banque marocaine pour le commerce et l'industrie, "Morocco Bank of Commerce and Industry") is a bank based in Morocco. It is a wholly owned subsidiary of the French financial group BNP Paribas.

At the end of the 19th century, the Comptoir national d'escompte de Paris (CNEP) – one of the founders of the French: 'Banque nationale de Paris', now BNP Paribas – had interests in Morocco, while from 1902 the Banque de Paris et des Pays-Bas (Paris and Netherlands Bank) helped financed the Sherifian Empire in Morocco.

Loans to Morocco, including those of 1902 and 1904 by the Paris and Netherlands Bank, helped finance the First Moroccan Crisis which led to the formation of Morocco as we know it today. However, these loans were at extremely high repayment rates. France, claiming payment guarantees, took control of Morocco's customs duties, which led to its taking control of the country in 1912 as the French protectorate in Morocco.

The bank played a key role as a capital investment bank in developing the Moroccan economy during the first half of the twentieth century. With holdings such as the Compagnie générale du Maroc (Génaroc) and ONA Group (French: Omnium Nord-Africain, Arabic: مجموعة أونا‎‎), it was actively involved in financing Morocco's infrastructure (roads and railways, electricity, mining, and so on) in partnership with the Morocco State Bank (French: Banque d'État du Maroc, BEM).

In 1950, Paribas opened a branch in Casablanca. In 1974 this merged with part of Banque Worms in 1974 to form the Société Marocaine de Dépôt et de Crédit ("Morocco Savings and Loan Association", SMDC).

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