Revenue distribution by sector:

• Retail Banking: approx. 40%
• Corporate Banking: approx. 30%
• Investment Banking: approx. 20%
• Other Financial Services: approx. 10%

TOP 3 markets and their percentage shares:

• Morocco: approx. 60%
• Sub-Saharan Africa: approx. 25%
• Europe: approx. 10%

Attijariwafa bank SA generates the majority of its revenue in the Retail Banking sector, followed by Corporate and Investment Banking. The most important market remains Morocco, where the company has a strong presence and market leadership. Sub-Saharan Africa is a growing market for the bank, while Europe accounts for a smaller but stable share of revenue.

Production Sites: Morocco, Sub-Saharan Africa, Europe

Attijariwafa Bank SA is primarily active in the banking sector and does not produce physical products in the traditional sense. The company offers financial services, including banking services, insurance, and investment products. These services are mainly offered in Morocco, but also in other parts of Africa and Europe.

The bank has a strong presence in Sub-Saharan Africa and Europe, which enables it to efficiently provide its services in these regions.

Revenue Growth: 8.2% (2024) Profit Growth: 10.1% (2024)

Attijariwafa bank SA is pursuing a strategy focused on geographical expansion and digital transformation. The company plans to further expand its presence in Africa to benefit from the growing markets on the continent. This expansion is supported by strategic partnerships and acquisitions.

Another key focus is on the digitization of services. The bank is investing significantly in digital platforms and technologies to enhance customer experience and increase operational efficiency. This includes the introduction of new digital products and the enhancement of existing online services.

Additionally, the bank is prioritizing sustainable financing projects to meet the growing demands for environmental and social responsibility. This involves investments in green projects and support for financial inclusion initiatives.

Main Imported Raw Materials/Resources: Financial services, IT infrastructure

Countries of Origin: USA, EU countries, China

Attijariwafa bank SA is primarily active in the financial sector and does not import physical raw materials in the traditional sense. Instead, the bank sources services and technologies necessary for the operation and advancement of its financial services.

The bank invests in IT infrastructure and software solutions, often sourced from the USA and EU countries, to enhance its digital platforms. Additionally, technologies and hardware components from China could be imported to support the operation of its IT systems.

These imports are crucial to ensure the efficiency and security of banking services and to offer customers modern digital solutions.

Market share in Morocco: approx. 25% (2024)
Return on equity: 14.5% (2024)
Credit growth: 8% (2024)

Attijariwafa Bank SA has a significant competitive advantage in Morocco, as it holds a large market share of about 25%. This makes it the leading bank in the country. The strong market position is supported by a comprehensive branch network and a wide range of products.

The return on equity of 14.5% shows that the company operates efficiently and achieves higher profitability compared to many competitors. The credit growth of 8% in 2024 indicates that the bank is able to successfully increase its lending, which suggests healthy demand and good risk management.

Additionally, the bank benefits from its presence in several African countries, allowing it to diversify its sources of income and making it less vulnerable to regional economic fluctuations.

Institutional Investor Share: approximately 40% (estimated, 2025)

Insider Purchases/Sales: No significant transactions reported (2025)

The institutional investor share in Attijariwafa bank SA is estimated to be around 40%. This reflects the interest of investment funds and other institutional investors investing in the Moroccan banking sector.

In 2025, no significant insider transactions, such as purchases or sales, were reported. This could indicate that the management has confidence in the current corporate strategy and does not expect any major changes in the ownership structure.

Market share of Attijariwafa bank SA: 23% (estimated for 2025)

Main competitors and their market shares:

1. Banque Populaire du Maroc: 20%
2. BMCE Bank of Africa: 15%
3. Crédit Agricole du Maroc: 12%
4. Société Générale Maroc: 10%
5. CIH Bank: 8%

Economic moat of Attijariwafa bank SA:

Attijariwafa bank SA possesses a significant economic moat, which is composed of several factors. Firstly, the bank has a strong brand presence and an extensive branch network that is well established in Morocco and other African countries. This enables it to serve a broad customer base and achieve high customer loyalty.

Secondly, the bank benefits from its diversification in various financial services, including retail banking, investment banking, and insurance, ensuring a stable source of income.

Compared to its competitors, Attijariwafa bank SA has the advantage of a larger international presence, especially in Africa, providing additional growth opportunities. This represents a significant advantage over most local competitors that are more focused on the Moroccan market.

However, some competitors, such as Banque Populaire du Maroc, also have strong regional networks and are competitive in certain segments. The competition remains intense, but Attijariwafa bank SA, through its strategic positioning and diversification, has built a robust economic moat that protects it well against competition.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Return on Equity: 14.5% (2024)

Attijariwafa bank SA recorded solid revenue growth of 8.5% in 2024, attributed to strong operational performance and effective expansion into new markets. The 10.2% profit growth indicates the company's ability to increase profitability, reflecting efficient cost control and successful business strategies.

The 14.5% return on equity suggests that the company effectively utilizes its resources to provide attractive value to shareholders. This metric is above the industry average, signaling a positive sign for potential investors.

In summary, Attijariwafa bank SA's stock could present an attractive investment opportunity, especially for investors interested in long-term growth. The company's solid financial performance and strategic positioning support this assessment.

Dividend yield: 4.5% (2024)

Dividend history: Regular payouts over the past 5 years

Attijariwafa bank SA has pursued a consistent dividend policy in recent years. The dividend yield is around 4.5% for the year 2024, which is competitive compared to other banks in the region.

The bank has regularly distributed dividends over the past five years, indicating a certain level of reliability. This continuity suggests that the bank has a solid financial foundation that enables it to pay dividends even in economically challenging times.

However, future payouts could depend on the overall economic situation and the bank's financial performance. Analysts recommend monitoring the economic conditions and the bank's business development to assess the sustainability of the dividend policy.