The bank was initially controlled by France's Banque Transatlantique, then from 1941 by the Crédit Industriel et Commercial, and from 1988 by Morocco's ONA Group.

[1]: 135  In 1963, Morocco, which had become independent in 1956, undertook a policy of national control of the banking sector known as marocanisation, and the BCM's registered office was relocated from Paris to Casablanca.

[1]: 136  By the late 1970s it was the largest private bank in Morocco, only surpassed by government-controlled BMCE and Crédit Populaire du Maroc.

[2] In June 1988, ONA Group acquired 25% of the BCM's equity through a capital increase and thus became its controlling shareholder, while the CIC reduced its stake to 10.6%.

[4] In the 1970s, under the leadership of its charismatic president Abdelaziz El Alami Hassani [fr], the BCM erected a new pyramid-shaped head office building at 2, Boulevard Moulay Youssef, near the Arab League Park.