CIH Bank: CDG Sells Its Direct Stake but Maintains Control of the Group
Reorganization of CIH Bank Ownership by CDG
The Caisse de Dépôt et de Gestion (CDG) has restructured its stake in CIH Bank by selling all the shares it directly held in the bank’s capital. This transaction, conducted on the block market on July 14, 2026, marks a decrease below the regulatory threshold of 5% direct ownership.
The operation involved 1,815,738 shares, sold at a unit price of 354 dirhams, resulting in a total amount of approximately 643 million dirhams.
Structural Change Without Losing Control
Despite this sale, the CDG remains a shareholder in CIH Bank. The institution retains control over the bank through its indirect ownership via its subsidiary, Massira Capital Management.
Following the transaction, the CDG holds indirectly 19,636,157 shares, which accounts for approximately 55.15% of the capital of CIH Bank. This structure allows it to maintain its status as the majority shareholder and to preserve its influence over the bank’s governance.
Portfolio Reorganization Operation
This transaction fits within a broader framework of reorganizing CDG’s investments, rather than a withdrawal from CIH Bank.
The maneuver modifies the ownership structure of the shares while not undermining the strategic control that the Caisse holds over the bank. It occurs in a context characterized by several financial operations carried out by CIH Bank, including its capital increase and the strengthening of its activities in financial markets.
CIH Bank Continues Its Development Strategy
This evolution in ownership comes as CIH Bank pursues its growth and diversification strategy.
The banking institution has recently initiated several projects aimed at strengthening its positioning, particularly through the development of its capital markets activities and the exploration of strategic operations with subsidiaries of CDG Capital.
Thus, the reorganization carried out by the CDG does not alter the governance balances of the bank, which remains under the control of the public group through its indirect participation.
