Saham Bank is a Moroccan commercial bank headquartered in Casablanca. It was originally established in 1913 as the Moroccan subsidiary of the French banking group Société Générale.[2]
On 2024/04/12, Société Générale announced the sale of its 57.7% stake in SGMB to the Saham Group, owned by Moroccan businessman Moulay Hafid Elalamy, including its insurance arm La Marocaine Vie, for €745 million.[3] The rebranding to Saham Bank was made official on 2025/06/18.[4]
History
Société Générale began its Moroccan operations in 1913, opening branches in Casablanca and Tangier shortly after the establishment of the French protectorate in Morocco. In 1923, its Moroccan headquarters were moved from the rue des Consuls in Rabat to a newly constructed building on the prominent Boulevard Mohammed-V (Casablanca),[5]