In Africa, the banking sector is being structured at great speed, to the point that certain establishments are developing almost everywhere across the continent. In the Maghreb region, one country surpasses the others in this area. This is Morocco, which is recording good performances.
According to a recent study whose results were shared on Jeune Afrique, 3 Moroccan banks are among the top 20 largest African banks. However, this same classification must be slightly qualified since the performances of these establishments remain quite “averages” compared to other major banking groups around the world.
3 Moroccan banks among the top 20 African banks
However, their size cannot be ignored. These banks are Attijariwafa bank which is positioned in ninth position in this ranking. Further on, the Banque Centrale Populaire (BCP) as well as the BMCE Bank of Africa which, respectively, are positioned in 19th and 20th position in this ranking. To achieve such a top, several criteria were taken into account.
The first concerns their ability to manage risk. The second rather concerns their ability to withstand economic shocks, particularly the most recent ones. This could be explained by strong activity in sub-Saharan Africa. Although the region remains volatile, significant revenues are generated there (between 15 and 20%, in total). This also contributes to the clear improvement in their profitability.
Some areas for improvement
Some areas for improvement. The solvency of these establishments does not yet reach or exceed the African standards of this banking sector. The question of the redistribution policies that are carried out also poses a problem. Only 43% of profits were, for example, redistributed to shareholders in 2023. Finally, Moroccan banks do not offer enough sophisticated financial products.
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