International Investor Award Winner
BMCE Bank Of Africa
Best Bank Morocco
Founded in 1959, BMCE Bank Of Africa is the largest universal and multi-branded Moroccan banking group. Present in 31 countries including 20 in Africa, the group perpetuates itself through a continental strategy while maintaining an international vocation. Capitalising on its ownership by group FinanceCom, regional leader involved in diverse business sectors with high-growth potential. BMCE Bank of Africa enjoys broad regional coverage in Morocco and is well positioned in Africa, Europe, Asia and North AmericaI. It’s today the 3rd largest Moroccan banking institution with over 15000 professionals across its different subsidiaries.
Group increasingly dominant in Africa
BMCE Bank of Africa is continuing to expand its geographical coverage in Africa, particularly via the Bank of Africa network which currently covers about fifteen countries. The Group’s sub-Saharan Africa operations offer excellent potential in terms of growth and profitability. Market share should continue to rise on the back of further branch openings. The Group’s medium-term aim is to extend its coverage to include the 54 African countries.
The strategy adopted by BOA Group to increase penetration of these highgrowth markets is based on replicating BMCE Bank of Africa’s retail banking business model but adapting it to local markets. It also involves generating intra-Group operational and commercial synergies in a number of areas such as consumer credit, loan recovery, financial markets activities, money transfer and cash management. Knowledge transfer by seconding key individuals to positions of responsibility within BOA Group is another important factor.
Playing to its strengths in Europe
The Group has restructured its European platform by bringing together the Bank’s two European subsidiaries, BMCE Bank International Madrid and BMCE Bank International London and Paris within BIH, a holding company, each subsidiary retaining specialisation by business line and geographical region. This platform is aiming to generate intra-Group synergies across both sides of the Mediterranean, in particular, by channelling commercial flows from Europe towards the Bank of Africa network.
CSR, underpinning group strategy
BMCE Bank of Africa’s commitment to corporate and social responsibility is fully illustrated in the initiatives undertaken by the BMCE Bank Foundation for education and the environment. The Group’s flagship Medersat.com programme proactively aims to build and equip schools in rural areas. The total number of school and pre-school units now stands at 200. This commitment is further underlined by the fact that the Bank allocates between 3% and 4% of its gross operating income to the BMCE Bank Foundation.
BMCE Bank of Africa Group’s approach to CSR is of paramount importance. The Bank now includes the social and environmental impact in its activities and commercial practices and, more generally, is fully committed to being a socially responsible enterprise. It is certified ISO 14001, disposes of SEMS and was awarded Top Performer CSR by Vigeo