Home / Banking / Attijariwafa bank increases its capital

Attijariwafa bank increases its capital

The Attijariwafa Bank group has decided to increase its share capital (issue premium included) by a total amount of 1,416,552,692 dirhams.

The decision was taken on December 23, 2020 during its board of directors, during which the characteristics and final terms of the transaction were set. These were published on December 28, 2020 by the Casablanca Stock Exchange. Attijariwafa bank’s capital increase was approved by the Moroccan Capital Market Authority (AMMC) on December 25, 2020.

The banking group will therefore issue 3,650,909 new shares at the issue price of 388 dirhams, with a nominal value of 10 dirhams/share and an issue premium of 378 dirhams/share.

It proposes the optional conversion into shares of the sums distributed as dividends, on an exceptional basis, on January 5, 2021. The main objective of this operation is to strengthen and maintain current regulatory capital and, consequently, to strengthen the ratios of solvency of Attijariwafa bank.

It will also make it possible to finance the organic development of the bank in Morocco and internationally, and to anticipate the various regulatory developments in the countries of presence.

Check Also

Bank Of Africa elected “Best Bank in Africa 2020”

The Bank Of Africa Group (BOA) was named “Best Bank in Africa 2020” by obtaining …

Leave a Reply