Banking

Morocco made the first payment of its quota relating to the capital increase of the African Development Bank (AfDB). Algiers and Abidjan will also make their payment during the year 2021, like other African countries. Morocco’s share of the first installment is worth 23.44 million units of account, or approximately …

Moody’s rating agency maintained Morocco’s “Ba1” credit rating due to its ability to access external and domestic financing on favorable terms. While Morocco’s rating has been confirmed, its outlook has nevertheless changed from “stable” to “negative”. This ability to obtain financing allows the kingdom to meet higher gross borrowing needs, …

The unprecedented health crisis that we are going through continues to have a significant impact on a large part of the Moroccan economic fabric, like most economies on a global scale, inducing a significant contraction in the activity of operators whatever their size or the sector in which they operate. …

Morocco and Mauritius have just joined the Bloomberg African Bond Index, the African Development Bank (AfDB) has announced. The inclusion of these two countries marks a steady progression in the bank’s efforts to deepen the bond market in Africa, the AfDB said in a statement. The Bloomberg African Bond Index …

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 …

Attijariwafa Bank has just won, for the 9th time, the prize for “Best Moroccan bank of the year 2020” by the English magazine The Banker, from The Financial Times group. The Banker, through this distinction hailed the achievements of the bank during the year 2019, with the signing of several …

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 …