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Morocco’s Alaouite royal family has seen a significant increase in their fortune thanks to the recent surge in their stake in Attijariwafa Bank, which is now worth $5 billion at the time of drafting this report, underscoring investors’ sustained interest in the Moroccan leading bank.
According to market data sourced from the official website of the Casablanca bourse, the Alaouite royal family’s stake in Attijariwafa Bank has increased by MAD2.18 billion ($217.23 million) over the past 19 days, reaching MAD50.18 billion ($5 billion). This rise is attributed to renewed investor interest in the stock market.
Attijariwafa Bank’s 4.55-percent share surge, market cap exceeds $11 billion
Attijariwafa Bank, Morocco’s largest bank and the fifth-largest in Africa, boasts a century of expertise and a global presence with 20,125 employees across 25 countries. Headquartered in Rabat, the bank serves a diverse clientele of 10 million retail, professional, corporate, and institutional customers.
The Alaouite royal family is the largest shareholder in Attijariwafa Bank, holding 46.5 percent ownership or 97,433,137 ordinary shares in the financial services group via Societe Nationale d’Investissement (Al Mada), a private equity firm engaged in strategic investments across vital sectors of Africa’s economy.
In recent times, the share price of Attijariwafa Bank on the Casablanca bourse has increased by 4.55 percent — from MAD 492.60 ($49.03) on Feb. 7 to MAD 515 ($51.26) — propelling the group’s market cap above $11 billion milestone and returning gains to shareholders.
Morocco’s royal family gains $217.2 million from Attijariwafa Bank shares
As a result of the 4.55-percent hike in the group’s share price, the market value of the stake held by the Moroccan royal family has risen by MAD2.18 billion ($217.23 million), from MAD 48 billion ($4.78 billion) on Feb. 7 to MAD 50.18 billion ($5 billion).
This recent $217.23-million surge in the Alaouite royal family’s stake in Attijariwafa Bank since Feb. 7 solidifies the family’s standing among the globe’s wealthiest royal families, making them the top investors on the Casablanca bourse.
