Integrated annual report

2019

Chairman's Message

In 2019, Banque Marocaine du Commerce Extérieur celebrated the 60th anniversary of its founding in 1959 by Royal Decree.

This anniversary provides the perfect opportunity to rename our Group ‘BANK OF AFRICA BMCE GROUP’, in preparation for the next phase of our development.

While retaining our identity as a member of the ‘BMCE Group’, the name change underlines our commitment to being an integral part of the pan-African banking landscape thanks to the unparalleled brand power enjoyed by the ‘BANK OF AFRICA’ brand, one with which Africans, whatever their nationality or country of residence, readily identify.

BMCE BANK OF AFRICA becomes

« The Bank was established in 1959 by Royal Decree as ‘Banque Marocaine du Commerce Extérieur’ prior to becoming ‘BMCE Bank of Africa’ in 2015. Over the past 60 years, the Bank has gradually developed into a multi-national multi-business group. This transformation has seen it evolve from an institution specialising in international trade into a universal bank and, more recently, a continental group, leveraging its know-how in the pursuit of innovation, progress and excellence.
With an international outlook and one of the continent’s leading banking networks, the Bank’s longstanding ambition has been to ensure that the 21st century belongs to Africa.
In 2020, the Bank marked a fresh milestone in its history.
BMCE Bank of Africa becoming Bank of Africa was the next logical step in the Bank’s development. The new name reflects the Bank’s vocation, which is to serve Africa and further expand its global outreach.
The new corporate logo is in the shape of a cut diamond, which is a reference to the African continent. Alongside the logo is the name ‘BANK OF AFRICA’ in bold and its belonging to BMCE Group.
Excerpt from the presentation made to the Extraordinary General Meeting of Shareholders 5 March 2020, resulting in the Memorandum and Articles of Association being amended.

Group presentation

Over 60 years of continuous development

BANK OF AFRICA
More than 60 years of history

BANK OF AFRICA
Today

Shareholders
BANK OF AFRICA

BANK OF AFRICA
Group’s business lines

Geographical
Presence

A pan-African vocation

Intra-Group synergies for
Africa’s development

BMCE Bank
Foundation

Strategy and resource allocation

The 2019-21 strategic
development plan: Growth accelerator

The Strategic Development Plan (PSD) adopted by BANK OF AFRICA Group for the 2019-2021 period provides a long-term vision underpinned by a number of sustainable growth drivers.

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Value creation
levers

BANK OF AFRICA’s commitment to social responsibility is inextricably linked to its performance and value creation goals. The Group’s CSR policy ensures close cooperation with stakeholders as well as being a source of innovation. It ensures that strategy is consistent with a new value chain and helps identify new business opportunities.

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Governance

A HEALTHY,
EFFICIENT AND SOLID GOVERNANCE SYSTEM

Sustainable Development and CSR Governance

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Performance

Economic performance, sustainable development and CSR

BANK Of Africa
Economic performance

With the 2019-2021 Strategic Development Plan together with the Group transformation plan, BANK OF AFRICA has embarked on the next stage of its development, which aims to deliver sustainable value creation.

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Widely recognized CSR performance

BANK OF AFRICA’s longstanding commitment to adopting a responsible approach to its ecosystem and to its partners is widely recognised with the Bank regularly winning a number of awards.

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Governance report

The Board of Directors’ primary responsibility is to maintain a balance between shareholders’ interests and growth prospects, between long-term value creation and depositor protection.

Risk management system

One of the missions assigned to the Group Risk Management is to strengthen the monitoring and control of credit, market, country and operational risks. It is also responsible for:

  • Defining BANK OF AFRICA Group’s risk policy
  • Definition and management taking and monitoring of commitments
  • Implementing of a credit risks control system, market transactions and operational risks

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