SAHAM BANK

Saham Bank is a Moroccan commercial banking brand headquartered in Casablanca. Its institutional history reaches back to 1913, when Société Générale began operating in Morocco through a local subsidiary during the French protectorate. The business initially developed a branch presence in Casablanca and Tangier and subsequently expanded into other Moroccan commercial centers. Although the bank operated for most of its history under Société Générale branding, its local franchise became an established participant in Morocco’s retail and corporate banking markets. The bank’s historical development included several stages of network expansion and consolidation. In 1923, its Moroccan headquarters moved from the rue des Consuls in Rabat to a purpose-built building on boulevard Mohammed V, designed by architect Edmond Gourdain. The Casablanca branch network reached seven locations by 1939 and 22 by 1950, while the institution also established operations in cities including Kenitra and Meknes. In 1965, the Moroccan subsidiary absorbed the local operations of Société Marseillaise de Crédit. In 1971, it acquired 20% of the activities of Société de Banque du Maghreb, while the remaining assets were taken over by Banque Marocaine du Commerce Extérieur. The institution moved its headquarters in 1979 to 55 Boulevard Abdelmoumen in Casablanca. During the 1980s and 1990s, it strengthened its position in retail banking and corporate banking. In the early 2000s, the Moroccan operation used a localized visual identity based on a red diamond and dotted-square motif. It returned to Société Générale’s international red-and-black square identity in December 2007, reflecting closer alignment with the wider group. A major ownership transition occurred in 2024. On 12 April 2024, Société Générale announced an agreement to sell its 57.7% stake in Société Générale Maroc, together with its insurance subsidiary La Marocaine Vie, to Saham Group, the Moroccan investment group owned by businessman Moulay Hafid Elalamy. The announced transaction value was €745 million. The sale represented Société Générale’s exit from Moroccan retail banking and transferred control of the local banking franchise to Saham Group. The institution was officially rebranded Saham Bank on 18 June 2025. The new identity links the bank to Saham Group while preserving the operating platform, customer relationships, branch infrastructure, and banking capabilities developed under the Société Générale Maroc name. Its principal business scope is commercial banking in Morocco, encompassing retail customers, businesses, and corporate clients. Specific current product names, executive appointments, digital offerings, financial results, and official website information are not established in the supplied reference material.

Saham Bank traces its origins to Société Générale’s establishment of Moroccan operations in 1913. The French banking group opened branches in Casablanca and Tangier shortly after the creation of the French protectorate. The Moroccan business gradually developed a national commercial footprint. In 1923, its headquarters moved from the rue des Consuls in Rabat to a newly constructed building on boulevard Mohammed V, designed by French architect Edmond Gourdain. The Casablanca network comprised seven branches by 1939 and 22 by 1950, and the bank also expanded into Kenitra and Meknes. The local franchise grew through acquisitions and transfers of banking activities. In 1965, it took over the Moroccan operations of Société Marseillaise de Crédit. In 1971, it acquired 20% of the activities of Société de Banque du Maghreb, the Moroccan branch of the former Crédit Foncier d’Algérie et de Tunisie. The remaining assets of that operation were transferred to Banque Marocaine du Commerce Extérieur. In 1979, the bank moved its headquarters to 55 Boulevard Abdelmoumen in Casablanca. Through the 1980s and 1990s, the institution consolidated its presence in Moroccan retail and corporate banking. During the early 2000s, the Moroccan subsidiary used a localized identity featuring a red diamond and dotted-square design. In December 2007, it reverted to the Société Générale Group’s global red-and-black square logo, emphasizing its connection with the international banking group. By the early 2020s, the business was described as Morocco’s fourth-largest bank, behind Attijariwafa Bank, the Banque Populaire Group, and Bank of Africa, formerly known as BMCE. Its activities covered the established functions of a commercial bank, serving individual customers as well as business and corporate clients. On 12 April 2024, Société Générale announced an agreement to sell its 57.7% stake in Société Générale Maroc to Saham Group. The transaction also included the insurance company La Marocaine Vie and was announced at a value of €745 million. Saham Group is owned by Moroccan businessman Moulay Hafid Elalamy. The transaction marked Société Générale’s withdrawal from Moroccan retail banking and placed the Moroccan banking operation under local investment-group ownership. The rebranding was made official on 18 June 2025, when Société Générale Maroc became Saham Bank. The new name reflects the bank’s integration into the Saham Group portfolio. The available reference material does not specify a current chief executive, a detailed post-rebranding product architecture, a standalone website, listing information, or current financial performance.

• 2025

  Official rebranding as Saham Bank

  [1]Saham Banken.wikipedia.org

  The Moroccan banking business officially adopted the Saham Bank brand on 18 June.

• 2024

  Saham Group agrees to acquire Société Générale Maroc

  [1]Saham Banken.wikipedia.org

  Société Générale announced the sale of its 57.7% stake in the Moroccan subsidiary and La Marocaine Vie to Saham Group.

• 2007

  Return to Société Générale global identity

  [1]Saham Banken.wikipedia.org

  In December, the Moroccan subsidiary adopted the Société Générale Group’s red-and-black square logo after a period using a localized identity.

• 1979

  Headquarters move to Boulevard Abdelmoumen

  [1]Saham Banken.wikipedia.org

  The bank relocated its headquarters to 55 Boulevard Abdelmoumen in Casablanca.

• 1971

  Expansion through Société de Banque du Maghreb activities

  [1]Saham Banken.wikipedia.org

  The bank acquired 20% of the activities of Société de Banque du Maghreb, while the remaining assets went to Banque Marocaine du Commerce Extérieur.

• 1965

  Acquisition of Société Marseillaise de Crédit operations

  [1]Saham Banken.wikipedia.org

  The Moroccan banking operation took over Société Marseillaise de Crédit’s local activities.

• 1950

  Casablanca network reaches 22 branches

  [1]Saham Banken.wikipedia.org

  The Casablanca network reached 22 branches, alongside operations in additional Moroccan cities.

• 1939

  Casablanca network reaches seven branches

  [1]Saham Banken.wikipedia.org

  The bank’s Casablanca branch network had expanded to seven locations.

• 1923

  Moroccan headquarters move to boulevard Mohammed V

  [1]Saham Banken.wikipedia.org

  The bank moved its Moroccan headquarters from the rue des Consuls in Rabat to a purpose-built building on boulevard Mohammed V.

• 1913

  Société Générale begins Moroccan operations

  [1]Saham Banken.wikipedia.org

  Société Générale established its Moroccan banking presence, opening branches in Casablanca and Tangier.

A Moroccan commercial bank combining a long-established Société Générale operating heritage with ownership and branding under Saham Group.

• Personal banking

  Retail banking

  The bank’s retail-banking activity serves individual customers through the Moroccan commercial banking network inherited from Société Générale Maroc. The supplied sources establish the existence of a substantial historical branch network and a retail-market presence, but do not provide a definitive current list of account, card, mortgage, consumer-credit, or digital-banking product names under the Saham Bank identity.

• Commercial banking

  Corporate and business banking

  Corporate and business banking has been a core part of the institution’s Moroccan franchise since its consolidation during the 1980s and 1990s. This area supports business and corporate customers through commercial banking services, although the available reference material does not specify current product names, sector programs, lending limits, or treasury solutions.

• Insurance

  Insurance relationship through La Marocaine Vie

  La Marocaine Vie was included in the 2024 transaction announced by Société Générale alongside its stake in Société Générale Maroc. It was therefore part of the transferred Moroccan financial-services perimeter, but the supplied material does not establish whether it remains a Saham Bank product line, a separately managed affiliate, or a distinct brand after the rebranding.

• 2025

  Rebranding as Saham BankStrategy

  Background

  Following the transfer of control from Société Générale to Saham Group, the Moroccan banking operation required a new identity.

  Action taken

  The institution officially changed its brand from Société Générale Maroc to Saham Bank on 18 June 2025.

  Aftermath

  The rebrand connected the established Moroccan banking platform with Saham Group while marking the end of its Société Générale consumer-facing identity.

  Source

• 2024

  Sale of Société Générale Maroc stake to Saham GroupM&A

  Background

  Société Générale announced the sale of its 57.7% Moroccan subsidiary stake, together with La Marocaine Vie, as part of its exit from Moroccan retail banking.

  Action taken

  The group agreed to transfer the majority stake and associated insurance asset to Saham Group for an announced value of €745 million.

  Aftermath

  The transaction placed the Moroccan banking operation under Saham Group ownership and preceded the adoption of the Saham Bank name.

  Announced transaction value. €745 million (2024 announcement)

  Source

• 2025

  Société Générale Maroc is rebranded as Saham Bank[1]Saham Banken.wikipedia.org

  Leadership change

  The Moroccan banking operation officially adopted the Saham Bank name on 18 June 2025 after the change in ownership from Société Générale to Saham Group.

• 2024

  Société Générale agrees to sell majority stake in Moroccan subsidiary to Saham Group[1]Saham Banken.wikipedia.org

  M&A

  Société Générale announced the sale of its 57.7% interest in Société Générale Maroc, together with La Marocaine Vie, to Saham Group for an announced consideration of €745 million.

1. 1Saham Banken.wikipedia.org