Economy & BusinessForbes Middle East: 3 Moroccan banks in the Top...

Forbes Middle East: 3 Moroccan banks in the Top 30

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Forbes Middle East has just unveiled the “Top 30 banks 2022” ranking in the MENA region in which 3 banks are Moroccan: Attijariwafa Bank, Banque Centrale Populaire and Bank of Africa.

In 14th position in the ranking is Attijariwafa Bank, chaired by Mohamed El Kettani. The bank has a market value of $9.1 billion. Attijariwafa has 4.3 MM$ in revenue and 630 million dollars (M$) in profits, with 61 MM$ to his credit. Attijariwafa Bank is the largest bank in Morocco and one of the largest in Africa. It employs more than 20,583 people, has nearly 10.6 million customers and operates in 26 countries.

In 21st position is the Banque Centrale Populaire (BCP), chaired by Mohamed Karim Mounir. The bank has a market value of $5.2B. BCP has $2.7 billion in revenue and $279 million in profits, and has $47.6 billion in assets. BCP is a group of 10 cooperative banks, each focusing on a region of Morocco. Through its subsidiaries, the group operates in 24 countries.

The 27th position is occupied by Bank of Africa, chaired by Othman Benjelloun. The bank has a market value of $4 billion and has assets of $35.3 billion. Bank of Africa has $2.1B in revenue and $291M in profit. It is present in more than 20 African countries and employs more than 14,900 people. It has 2,000 points of sale, serving 6.6 million customers.

Gulf banks dominate the 2022 list, with 25 out of 30 based in GCC countries. Qatar’s QNB Group tops the list with $300.3bn in total assets, followed by UAE FAB, Saudi Al Rajhi Bank and Saudi National Bank. Saudi Arabia and the United Arab Emirates are the most represented countries on the list, with 10 and 7 banks, respectively. Qatar follows with 4 banks.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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