Four Moroccan banks made the cut in Forbes Middle East’s rating of the Top 50 Most Valuable Banks in the Region for 2023, which recognizes the biggest financial titans in the Middle East.
Attijariwafa Bank, the largest bank in Morocco and one of the largest in Africa, ranked 18 on the list.
BCP, which is the “Banque Central Populaire”, ranked 24 on Forbes’ list. The bank is present in 32 countries worldwide, and 18 out of them are African.
The 32nd position went to the Bank of Africa. The parent company’s shareholders’ net income increased to $225.9 million in 2022, up 15% from the previous year.
The BMCE Bank Foundation, which supports community development and education in rural parts of sub-Saharan Africa and Morocco, is one way that the Bank of Africa is dedicated to the environment and sustainable development.
Lastly, the 49th spot went to CIH Bank, which serves over 1.1 million customers through more than 301 branches across Morocco.
For $63.3 million, CIH and the European Investment Bank entered a financing deal in 2022 to help Small and medium-sized businesses whose operations have been affected by the pandemic.
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