Wallets/bank-of-africa-morocco
Bank of Africa Morocco (formerly BMCE) / BMCE Direct + MyBOA
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Overview
Bank of Africa Morocco (formerly BMCE - Banque Marocaine du Commerce Extérieur) is Morocco's 3rd largest bank by assets (2024) + 22+ countries African + European + Asian footprint [1, 2, ma-cro]. 2025 baseline: Bank of Africa Morocco offers BMCE Direct + MyBOA + Bank of Africa Business Online distinctive Moroccan banking app suite; Bank of Africa Morocco is Moroccan international financial services group headquartered in Casablanca; Bank of Africa Group operates across 18 African + 4 European + Asian countries via subsidiaries.
Distinctive Bank of Africa Morocco positioning:
- Morocco's 3rd largest bank by assets (2024) + 22+ countries African + European + Asian footprint
- Bank of Africa Morocco is Moroccan international financial services group headquartered in Casablanca (formerly BMCE Banque Marocaine du Commerce Extérieur)
- BMCE Direct + MyBOA + Bank of Africa Business Online distinctive Moroccan banking app suite
- Othman Benjelloun + FinanceCom group ~21% controlling (distinctive Moroccan banking founding family + business group ownership)
- 1959 Banque Marocaine du Commerce Extérieur (BMCE) founding by Moroccan government → distinctive Moroccan foreign trade banking heritage (BMCE = Moroccan Bank for Foreign Trade)
- 1995 BMCE privatization + Othman Benjelloun + FinanceCom group acquisition → distinctive Moroccan banking privatization
- 2008 BMCE Bank of Africa Group acquisition → 2011 BMCE renamed Bank of Africa Morocco post-Bank of Africa Group pan-African expansion brand consolidation
History
Sep 1 1959 — Banque Marocaine du Commerce Extérieur (BMCE) founded by Moroccan government → distinctive Moroccan foreign trade banking heritage (BMCE = Moroccan Bank for Foreign Trade).
1995 — BMCE privatization + Othman Benjelloun + FinanceCom group acquisition → distinctive Moroccan banking privatization.
2008 — BMCE acquires Bank of Africa Group (West African + East African banking group; original Bank of Africa founded 1982 in Mali).
2011 — BMCE renamed Bank of Africa Morocco post-Bank of Africa Group pan-African expansion brand consolidation.
2012 — BMCE Direct mobile banking app launches.
2024 — Bank of Africa Morocco 3rd largest bank in Morocco by assets [2].
2025 — Bank of Africa Morocco offers BMCE Direct + MyBOA + Bank of Africa Business Online distinctive Moroccan banking app suite [1, 3].
Ownership & operator
Operating entity: Bank of Africa S.A. (Casablanca Stock Exchange: BOA; formerly BMCE).
Major shareholders: Othman Benjelloun + FinanceCom group ~21% controlling + Moroccan institutional + Moroccan + international retail public float.
Regulators: BAM (Bank Al-Maghrib) + multi-jurisdiction African + European central banks.
Technical integration
BMCE Direct mobile banking app (iOS + Android) + MyBOA Mobile Banking app + Bank of Africa Business Online app + bankofafrica.ma online + Bank of Africa Morocco cards (Visa + Mastercard) + Bank of Africa Morocco + 21-country international branch network; Morocco Instant + Moroccan ACH (SIMT) + Moroccan RTGS (SRBM).
Users & growth
2025: Bank of Africa Morocco offers BMCE Direct + MyBOA + Bank of Africa Business Online distinctive Moroccan banking app suite.
Use cases
Moroccan + pan-African + European + Asian retail + private + corporate + SME + investment banking via BMCE Direct + MyBOA + Bank of Africa Business Online + bankofafrica.ma online + cards + branches; Morocco Instant + Moroccan ACH (SIMT) + Moroccan RTGS (SRBM).
Implementations & partners
Operator: Bank of Africa S.A. (Casablanca Stock Exchange: BOA); Othman Benjelloun + FinanceCom group ~21% controlling.
Subsidiaries: Bank of Africa Group (18 African country subsidiaries: Benin + Burkina Faso + Côte d'Ivoire + Mali + Madagascar + Niger + Senegal + Togo + DRC + Djibouti + Ethiopia + Kenya + Mozambique + Rwanda + Tanzania + Uganda + Zimbabwe + Ghana) + Bank of Africa France + Bank of Africa UK + Bank of Africa Spain + Bank of Africa China.
Major Moroccan banking competitors: [[attijariwafa-bank]] (Morocco's largest financial institution by assets + market share + Africa's #3 largest banking group + 12M+ customers worldwide + Jibi mobile wallet 2M users in Morocco + May 2026 "Simple." Moroccan neobank Super App + 25+ countries footprint) + Banque Centrale Populaire (BCP Morocco; Moroccan banking cooperative federation) + [[cih-bank]] (CIH Bank; Moroccan housing + hotel banking specialist; CIH MOBILE 1M+ users) + Société Générale Maroc (SocGen Moroccan subsidiary) + Crédit Agricole du Maroc (Moroccan agricultural cooperative bank) + Crédit du Maroc (post-2022 Holmarcom Group acquisition from Crédit Agricole France).
Regulators: BAM + multi-jurisdiction African + European central banks.
Fun facts
- Morocco's 3rd largest bank by assets (2024) + 22+ countries African + European + Asian footprint.
- Bank of Africa Morocco is Moroccan international financial services group headquartered in Casablanca (formerly BMCE Banque Marocaine du Commerce Extérieur).
- BMCE Direct + MyBOA + Bank of Africa Business Online distinctive Moroccan banking app suite.
- Othman Benjelloun + FinanceCom group ~21% controlling (distinctive Moroccan banking founding family + business group ownership).
- Sep 1 1959 Banque Marocaine du Commerce Extérieur (BMCE) founding by Moroccan government → distinctive Moroccan foreign trade banking heritage.
- 1995 BMCE privatization + Othman Benjelloun + FinanceCom group acquisition → distinctive Moroccan banking privatization.
- 2008 BMCE Bank of Africa Group acquisition → 2011 BMCE renamed Bank of Africa Morocco post-Bank of Africa Group pan-African expansion brand consolidation.
Comparison
| Feature | Bank of Africa Morocco / BMCE Direct + MyBOA | [[attijariwafa-bank]] (Morocco's largest financial institution rival; Africa's #3 largest banking group) | Banque Centrale Populaire (BCP Morocco; Moroccan banking cooperative federation rival) | [[cih-bank]] (CIH Bank; Moroccan housing + hotel banking specialist; CIH MOBILE 1M+ users rival) | [[ecobank]] (pan-African Togo-based rival; 35 sub-Saharan African countries) |
|---|---|---|---|---|---|
| Operator | Bank of Africa S.A. (Casablanca Stock Exchange: BOA; formerly BMCE; Othman Benjelloun + FinanceCom ~21% controlling) | Attijariwafa bank S.A. (Casablanca Stock Exchange: ATW) | Banque Centrale Populaire (Casablanca Stock Exchange: BCP) | CIH Bank S.A. (Casablanca Stock Exchange: CIH) | Ecobank Transnational Incorporated (NGX: ETI; GSE: ETI; BRVM: ETI; LSE: ETI) |
| Type | Morocco's 3rd largest bank by assets 2024 + 22+ countries African + European + Asian footprint + BMCE Direct + MyBOA + Bank of Africa Business Online + Othman Benjelloun + FinanceCom ~21% controlling | Morocco's largest financial institution by assets + market share + Africa's #3 largest banking group + 12M+ customers worldwide + Jibi mobile wallet 2M + May 2026 "Simple." Moroccan neobank + 25+ countries | Moroccan banking cooperative federation + BCP Net banking app | Moroccan housing + hotel banking specialist + CIH MOBILE 1M+ users + v5.57 May 2026 simulation + online real estate credit requests + CIH MOBILE PRO + CDG Moroccan state ~67% controlling | Africa's leading private pan-African banking group + 35 sub-Saharan African countries + 4 non-African countries + 32M+ customers |
| Country | MA + 21+ countries | MA + 25+ countries | MA + multiple countries | MA | TG + 35 sub-Saharan African countries + FR + GB + AE + CN |
| Distinctive | Sep 1 1959 BMCE founding by Moroccan government (Moroccan foreign trade banking heritage); 1995 BMCE privatization + Othman Benjelloun + FinanceCom acquisition; 2008 BMCE Bank of Africa Group acquisition; 2011 BMCE renamed Bank of Africa Morocco; 2012 BMCE Direct launch; 2024 Morocco's 3rd largest bank by assets | 1911 Wafabank Casablanca founding heritage; 1933 BCM founding; 2003 BCM + Wafabank merger | 1926 Banque Centrale Populaire Moroccan banking cooperative founding | Apr 18 1928 CPIM founding + 1968 CIH founding + 1995 Casablanca Stock Exchange IPO | 1985 ETI founding by ECOWAS in Lomé, Togo |
Status
Active, Morocco's 3rd largest bank by assets (2024) + 22+ countries African + European + Asian footprint [1, 2, 3]:
- Bank of Africa S.A. (Casablanca Stock Exchange: BOA; formerly BMCE; Othman Benjelloun + FinanceCom ~21% controlling) since Sep 1 1959 BMCE founding by Moroccan government + 1995 privatization + Othman Benjelloun + FinanceCom acquisition + 2008 BMCE Bank of Africa Group acquisition + 2011 BMCE renamed Bank of Africa Morocco.
- BMCE Direct + MyBOA + Bank of Africa Business Online distinctive Moroccan banking app suite.
- Bank of Africa Group (18 African country subsidiaries) + Bank of Africa France + UK + Spain + China.
- BAM + multi-jurisdiction African + European central banks regulated.
Sources
- 1 Everyday banking for individuals — BANK OF AFRICA
- 2 Bank of Africa — Wikipedia
- 3 Bank of Africa (BMCE) (BVC: BOA) Stock Price, Profile, Annual Reports, Dividends — african markets
- ma-cro In-corpus:
reports/countries/MA-morocco.md
Source
Biography extracted from bank-of-africa-morocco.md. See matrix.md for standards-support matrix if present.