The joint stake of the Royal Family of Morocco in Attijariwafa Bank, the country’s largest banking and financial services group, is currently worth $5.07 billion.
The bank’s share price has risen by 9.42 percent since Jan. 1, thus lifting the market capitalization of the leading banking group by $939.45 million (MD8.36 billion)
As of press time, 11:40 am (UTC+1) today, Attijariwafa Bank’s market capitalization was $10.92 billion (MD97.19 billion), making it group the second-largest listed entity on the Casablanca Stock Exchange behind Morocco’s largest telecom service provider, Itissalat Al-Maghrib.
Attijariwafa Bank, the fifth largest bank in Africa, according to Stata, is a Moroccan multinational commercial bank and financial services company founded and based in Rabat.
For over a century, the bank has been diversifying its business lines, renewing offers, and revising fundamental structures to fulfill its mission of becoming the leading customer service bank in Africa.
The bank supports 10 million retail, professional, corporate and institutional clients, with 20,125 employees in 25 countries in Africa, Europe and the Middle East.
The leading bank formed from a merger between Banque Commerciale du Maroc and Wafabank is majority-owned by Al Mad, a large Moroccan private holding primarily owned by the Moroccan Alaouite Royal Family.
Al Mada owns 46.4 percent, or 97,433,137 units of the total issued and paid-up shares of Attijariwafa Bank.
As of press time today, shares in the group were trading at $52.02 (MD463.10) on the Casablanca Stock Exchange. This puts the year-till-date performance of the bank’s shares at 9.42 percent.
At this price, the stake of the Morocco Royal Family in Attijariwafa Bank is valued at $5.07 billion (MD45.12 billion).
