Banking

The Attijariwafa Bank (AWB) group saw its Net Banking Income (NBI) stand at MAD 18.2 billion at the end of September 2020, an improvement of 3.3% compared to the same period of 2019. According to the results for the first nine months of the 2020 financial year, this change notably …

The Bank of Africa BMCE Group (BoA) signed a memorandum of understanding on Saturday with Zhejiang China Commodity City Group (CCC Group), during the 3rd edition of the China International Import Expo (CIIE). Concluded during a ceremony chaired by the Mayor of the city of Yiwu, Wang Jian and the …

Faced with the harmful effects of the health crisis linked to the coronavirus, Morocco is requesting a “retroactive loan” of $ 400 million from the World Bank. This loan request is in line with the World Bank’s program to support developing countries to cope with the economic and social repercussions …

The American rating agency Fitch Ratings has downgraded the long-term issuer default ratings in foreign currencies and in local currency of three Moroccan banks. In a statement released Tuesday, Fitch Ratings announced the downgrade of Attijariwafa Bank (AWB), CIH and Bank of Africa (BOA) from BB+ with negative outlook to …

The rating agency Fitch Ratings downgraded the long-term foreign currency default issuer rating from BBB- to BB+ on Friday, with a stable outlook for Morocco. In its briefing note, the agency refers to “the severe impact of the coronavirus pandemic on the Moroccan economy and on public and external finances”. …

Global Finance, a prestigious American magazine, has just announced its ranking of the safest banks locally and on a continental scale, and it is Attijariwafa bank which has risen to number one by winning both awards: ”Safest Bank in Morocco” for the 2nd year in a row and ”Safest Bank …

According to the FDI Report 2020 by FDI Intelligence (specialist service from the Financial Times, providing industry leading insight into globalisation and foreign direct investment), Morocco occupies 9th place on the podium in the region, after receiving 3 billion dollars of FDI in 2019. Indeed in term of Foreign Direct …

The Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri, maintained his position, for the fourth consecutive year, in the top 10 of the best central bankers, according to the latest ranking of the American magazine Global Finance. It earned an A rating, the best awarded by the New York magazine in …

The European Union has kept Morocco on its gray list of tax havens, updated on October 6. The kingdom’s case may not be analyzed again “before February 2021”, on the basis of “the various decisions of the European Commission” due to the pandemic linked to the new coronavirus. Indeed, for …

The last monitoring report of the economic situation in Morocco, established by the World Bank Group, more precisely by the Middle East and North Africa (MENA) unit of the World Practice for Macroeconomics, Trade and Investment (MTI), draws up a worrying inventory of the economic situation in Morocco and announces …