Crédit Agricole S.A. Sells Remaining Stake in Crédit du Maroc to Holmarcom

Crédit Agricole S.A. has announced the sale of its remaining 15% stake in Crédit du Maroc to the Moroccan group Holmarcom. This transaction follows the initial agreement made in April 2022 to divest Crédit Agricole S.A.'s entire stake in Crédit du Maroc.

In December 2022, Crédit Agricole S.A. sold the first tranche of 63.7%. The present completion of the sale involves the second and remaining tranche of 15%, following regulatory approval and the completion of Crédit du Maroc's autonomisation process.

The sale is in line with the previously announced schedule, marking the full exit of Crédit Agricole S.A. from Crédit du Maroc. This step fulfills the strategic objectives laid out in the initial agreement between Crédit Agricole S.A. and the Holmarcom group.