# Bank of Africa Morocco (formerly BMCE) / BMCE Direct + MyBOA

> Source: https://docs.barcoder.ai/docs/wallets/bank-of-africa-morocco
> research date 2026-05-30 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Bank of Africa Morocco — official](https://www.bankofafrica.ma/)

## 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** <sup>[1][1], [2][2], [Morocco report](https://docs.barcoder.ai/docs/payments/MA)</sup>. **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** <sup>[2][2]</sup>.

**2025 — Bank of Africa Morocco offers BMCE Direct + MyBOA + Bank of Africa Business Online distinctive Moroccan banking app suite** <sup>[1][1], [3][3]</sup>.

## 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](https://docs.barcoder.ai/docs/wallets/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 (Crédit Immobilier et Hôtelier) / CIH MOBILE](https://docs.barcoder.ai/docs/wallets/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](https://docs.barcoder.ai/docs/wallets/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 (Crédit Immobilier et Hôtelier) / CIH MOBILE](https://docs.barcoder.ai/docs/wallets/cih-bank) (CIH Bank; Moroccan housing + hotel banking specialist; CIH MOBILE 1M+ users rival) | [Ecobank / Ecobank Mobile App](https://docs.barcoder.ai/docs/wallets/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** <sup>[1][1], [2][2], [3][3]</sup>:
- **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]: https://www.bankofafrica.ma/en "Everyday banking for individuals — BANK OF AFRICA"
[2]: https://en.wikipedia.org/wiki/Bank_of_Africa "Bank of Africa — Wikipedia"
[3]: https://www.african-markets.com/en/stock-markets/bvc/listed-companies/company?code=BOA "Bank of Africa (BMCE) (BVC: BOA) Stock Price, Profile, Annual Reports, Dividends — african markets"
[ma-cro]: https://docs.barcoder.ai/docs/payments/MA

- [1] [Everyday banking for individuals — BANK OF AFRICA][1]
- [2] [Bank of Africa — Wikipedia][2]
- [3] [Bank of Africa (BMCE) (BVC: BOA) Stock Price, Profile, Annual Reports, Dividends — african markets][3]
- <sup>[Morocco report](https://docs.barcoder.ai/docs/payments/MA)</sup> In-corpus: `reports/countries/MA-morocco.md`

## Source

Biography extracted from [bank-of-africa-morocco.md](https://docs.barcoder.ai/source/wallets/bank-of-africa-morocco). See `matrix.md` for standards-support matrix if present.