Attijariwafa Bank's Remarkable Achievement in the MENA Region
In a significant testament to its financial prowess, Attijariwafa Bank has secured the 33rd position in Forbes' 2026 ranking of the 100 most valued companies in the Middle East and North Africa (MENA). This prestigious acknowledgment, published on March 17, 2026, highlights the bank's impressive market capitalization of $17.4 billion, under the leadership of CEO Mohamed El Kettani. This accomplishment not only cements Attijariwafa Bank's status as a key financial player on the African continent but also underscores Morocco's growing influence in the regional financial landscape.
Robust Expansion and Strategic Growth
Established in 2004 through the merger of Banque Commerciale du Maroc and Wafabank, Attijariwafa Bank has evolved remarkably, now operating across 27 countries with over 7,200 branches. By the end of September 2025, the bank reported total assets amounting to $82.2 billion and a net profit of $1.1 billion, reflecting the robustness of its diversified business model in Africa. The Moroccan holding company Al Mada remains the primary shareholder, holding 46.5% of the bank's equity, further illustrating the bank's integral role in Morocco's economic framework.
Despite a regional landscape dominated by Gulf economies, with the United Arab Emirates leading with 35 companies in the ranking, Morocco's presence is notable with nine companies featured. The total market capitalization of the top 100 firms in the MENA region stands at an impressive $3.7 trillion, representing a significant concentration of wealth, particularly with Saudi Arabia contributing a staggering 64% of this total due to the valuation of its national oil giant, Saudi Aramco.
Al Mada, formerly known as ONA (Omnium Nord-Africain), plays a crucial role as a pan-African investment holding company, transitioning from a diversified industrial conglomerate to a strategic investor focused on key sectors such as finance, telecommunications, mining, energy, and distribution. Al Mada's strategic investments, including its significant stake in Attijariwafa Bank, position it as a vital lever for Morocco’s economic expansion across the African continent.
As reported by article19.ma.
