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Marrakech – Morocco’s Caisse de Dépôt et de Gestion (CDG) has sold its entire direct shareholding in CIH Bank. The Moroccan Capital Markets Authority (AMMC) disclosed that CDG offloaded 1,815,738 shares on the block market on July 14 at MAD 354 ($35.4) per unit, dropping its direct stake below the 5% threshold.
CDG now holds zero CIH Bank shares directly. It retains an indirect stake of 55.15% – totaling 19,636,157 shares – through its subsidiary Massira Capital Management. Over the next six months, CDG plans to suspend further sales of CIH Bank stock and will remain on the bank’s board of directors.
The transaction coincides with a large-scale capital raise at CIH Bank. The AMMC approved on July 8 the prospectus for a public capital increase of up to MAD 750 million ($75 million), open to the public with the suppression of preferential subscription rights.
The operation involves the issuance of 2,142,857 new shares at MAD 350 ($35) each. The subscription window runs from July 15 through July 22.
Full subscription would lift CIH Bank’s equity from MAD 8.25 billion ($825 million) to MAD 9 billion ($900 million), based on Q1 2026 data. A separate increase of up to MAD 250 million ($25 million) is reserved for employees of the bank and its subsidiaries. The capital raise targets a strengthening of regulatory capital and solvency ratios ahead of the bank’s next growth phase.
Both operations are tied to Impulse 2030, the bank’s strategic plan for 2025-2030. The plan centers on revenue growth, digital transformation, and operational efficiency. CIH Bank intends to invest MAD 800 million ($80 million) annually, with 75% of the budget directed toward technology, data, artificial intelligence, cybersecurity, and cloud infrastructure.
Other priorities include expanding the branch network by 15% over five years, reconfiguring around 100 existing branches, and scaling remote sales platforms. The bank, which serves more than three million clients, is also expanding across SME, corporate, and investment banking alongside its traditional retail and real estate base.
The 2025 consolidated financials back the strategy. Net banking income reached MAD 5.42 billion ($542 million), up 14.4% year-on-year. Consolidated net income stood at MAD 1.22 billion ($122 million). The standalone solvency ratio improved to 14.90% from 14.48% a year earlier, with a Tier 1 ratio of 11.40%.
Separately, CIH Bank has launched a competition to design its future headquarters at Casablanca Finance City (CFC). The project involves a high-rise, office-dominant tower spanning approximately 25,720 square meters.
The architectural competition targets teams of Moroccan architects and technical engineering firms with proven experience in large-scale construction. The deadline for expressions of interest was July 13. Four runner-up teams will each receive a prize of MAD 1 million ($100,000).
