The Banker magazine’s annual ranking of the top 100 Arab banks placed eight Moroccan financial institutions on the prestigious list.
Leading the Moroccan contingent was Attijariwafa Bank, securing a commendable 21st position. This marked a significant improvement of four places from the previous year’s ranking. Banque Populaire Group followed closely behind at the 25th spot, also climbing two positions.
Other notable Moroccan banks included Bank of Africa (36th), Société Générale (56th), Crédit Agricole (62nd), CIH (70th), BMCI (70th), and Bank Al-Maghrib (81st).
On the Arab-wide list, Saudi Arabian banks claimed the top three spots, with the National Bank of Saudi Arabia reigning supreme. This dominance provides an interesting contrast to the performance of the Moroccan banks. Al Rajhi Bank and the National Bank of Qatar rounded out the top three, further solidifying Saudi Arabia’s position in the Arab banking landscape.
The Banker highlighted Saudi Arabian banks’ continued dominance in the Arab banking landscape. However, the magazine also noted a resurgence in the performance of UAE banks, which saw nine out of 18 institutions improve their rankings.
The success of the Moroccan banking sector, as evidenced by the performance of its top institutions in The Banker magazine’s annual ranking, can be attributed in part to the strengthening of the Moroccan dirham against the US dollar in 2023. Attijariwafa Bank, in particular, was recognized as the top-performing Moroccan lender for the second consecutive year, excelling in areas such as profitability, asset quality, return on risk, and leverage.
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