Rabat – Morocco’s largest banking group, Attijariwafa Bank, appeared on a ranking of the 30 largest banking groups in the Middle East and Africa from S&P Market Intelligence, a research firm.
In a report published earlier this week, Attijariwafa Bank ranked as the 26th largest banking group in the Middle East and Africa in terms of assets.
The bank currently manages over $64 billion worth of assets. Attijariwafa Bank’s ranking dropped three positions from last year.
The S&P Market Intelligence reports show that the first five places continue to be dominated by Middle Eastern countries. The top banking group is based in Qatar, with two of the top five in Saudi Arabia, and two in the UAE.
Out of the 30 banking groups in the ranking, seven are in Saudi Arabia, holding a cumulative volume of assets of over $800 billion.
Second is the UAE with five banks on the ranking and a cumulative $770 billion in assets, and Israel with five banks and over $670 billion in assets.
Attijariwafa Bank
Over the years, Attijariwafa Bank has claimed a number of awards acknowledging its strong performance.
In Early 2022, the Moroccan bank secured Global Finance magazine’s “Best Investment Bank in Morocco for the Year 2022” award for the seventh consecutive year.
In 2021, the banking group was recognized as the “Best Moroccan Bank of the Year” by EMEA Finance Magazine, a business magazine with a particular focus on Europe and the MENA region.
Attijari Finances Corp, the consulting arm of Attijariwafa Group, also won the “Best Investment Bank” award from EMEA Finance Magazine.
According to a 2022 Fitch rating report, the Moroccan banking group enjoys a stable outlook due to its significant market share of 25% and its excellent management.
Attijariwafa Bank is a leading bank in Morocco, with a national rating slightly higher than the average rating for Moroccan banks, particularly in the corporate finance sector.
The bank has a robust presence in Africa, which has diversified its business model and contributed to its profits, as per the report.
Read Also: Attijariwafa Bank, Sound Energy Extend Negotiation for Gas Drilling Financing
