WAMU: Three Moroccan banks in the top 5

Three Moroccan banks have positioned themselves in the top 5 banking groups in the West African Monetary Union (WAMU), Ecofin news Agency reported.

These are BMCE Bank Group, Attijariwafa Bank, and Groupe Banque Centrale Populaire. They made the move after making acquisitions in Mali, Senegal and Côte D’Ivoire.

The Bank of Africa group, owned by BMCE Bank (Moroccan Foreign Trade Bank), ranked second in the ranking. Atlantic Business International (ABI), a subsidiary of the Banque Centrale Populaire (BCP) group ranked 4th, and Attijariwafa bank, ends the list in the top 5.

The operations of the Bank of Africa Group (BOA) in the WAMU accounts for 10.5% of its total balance sheets.

Atlantic Business International (ABI) is present in all the countries of the West African Monetary Union, with eight subsidiaries and a branch.

As for Attijariwafa bank, it confirmed the Moroccan leadership in the WAMU, covering six subsidiaries and three branches.

This year ranking is dominated by the Ecobank group, headquartered in Lomé, with a market share of 14% in 2017. It is the largest banking group operating in the WAMU and is present in all the countries of the Union.

WAMU currently includes Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo.

About Khalid Al Mouahidi 4355 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network