Bank of Africa
| Company type | Public |
|---|---|
| CSE: BOA | |
| Industry | Financial services |
| Founded | August 31, 1959 |
| Headquarters | Casablanca, Morocco |
Key people | Othman Benjelloun (Group chairman & CEO) |
| Products | |
| € 76 million (2017) | |
| Total assets | € 9.406 billion (2021) |
| Total equity | € 746 million (2016) |
Number of employees | 5,655 (2016) |
| Subsidiaries |
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| Website | bankofafrica.ma |
Bank of Africa (BOA), formerly Banque Marocaine du Commerce Extérieur (BMCE), is a Moroccan international financial services group headquartered in Casablanca.
The group originated from BMCE’s 2010 acquisition of Bank of Africa, a banking network founded in 1982 in Mali. Established in 1959, BMCE subsequently integrated the Bank of Africa network into its operations. In 2020, its commercial banking activities were rebranded under the Bank of Africa name, while the BMCE designation continues within the group’s corporate identity through the byline “BMCE Group.”
As of 2024, the bank is the third-largest in Morocco. Its major shareholders include Royale Marocaine d'Assurance (RMA), an insurance company controlled by Moroccan financier Othman Benjelloun, and the French cooperative banking group Crédit Mutuel Alliance Fédérale. The remainder of the share capital is held by institutional investors and the public. Listed on the Casablanca Stock Exchange, Bank of Africa operates in numerous African countries, offering a broad range of financial services across the continent.