Banque Commerciale du Maroc
Banque Commerciale du Maroc or B.C.M. (Arabic: البنك التجاري المغربي was a bank founded in 1911 in Morocco. The bank was part of the Moroccan king's holding company, ONA Group. In 2004, it was merged with Wafa bank to form, Attijariwafa bank.
In 1999, the capital of B.C.M. was 1,325,000,000.00 Moroccan Dirhams for a total of 13,250,000 shares and its headquarters were located in 2, Boulevard Moulay Youssef, Casablanca, Morocco.
And in 2002, the capital of Wafabank was 639,482,700 Moroccan dirhams.
In 2004 Banque Commerciale du Maroc made an Increase in share capital by contribution in kind following exchange offer (Wafabank/BCM), the number of Securities issueds was 5,580,421 and the Methods of exchange (7 BCM per 8 Wafabank), then there was an Increase in share capital following the Wafabank merger and the number of Securities issueds was 34,038 and the Methods of exchange was Reserved to the shareholders of Wafabank, then followed the Amendment of company name to Attijariwafa Bank with a total number of shares of 19,299,596.
As of July 2008, the capital of Attijariwafa Bank is 1.929.959.600 Moroccan Dirhams, which is comparable with US$265 million. The assets approaching some US$30billion. Its headquarters are the same headquarters B.C.M. had in the early 80s, 2, Bd Moulay Youssef, Casablanca.
- Currency Exchange Practices at Moroccan Banks
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