Crédit du Maroc (CDM, Arabic: مصرف المغرب) is a Moroccan bank, established in 1929 as the Moroccan subsidiary of Paris-based Crédit Lyonnais and known under its current name since 1966.
Overview
Crédit Lyonnais established its subsidiary in Casablanca in 1929. In 1950, it relocated to a new head office building designed by architect Edmond Brion on the prestigious boulevard Mohammed V [fr].[1]
In 1966, in response to the newly independent Moroccan government's push for marocanisation or shedding the colonial legacies in its banking sector, the operation was renamed Crédit du Maroc.[2]Crédit Agricole became CDM's owner following its purchase of Crédit Lyonnais in 2003.
In February 2021, Crédit du Maroc signed a partnership with the National Agency for the Promotion of Employment and Skills (Anapec) to work on promoting entrepreneurship.[3]
In late April 2022, Crédit Agricole announced the sale of its 78.7 percent stake in Crédit du Maroc to the Holmarcom Group.[4][5] A new visual identity was adopted by Crédit du Maroc following that change of ownership.
The International Bank of Tangier (BIT) and SIFIM are subsidiaries of the CDM Group.
