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Attijariwafa Bank
Attijariwafa Bank Business Model Canvas: Strategic Blueprint for Investors
Unlock the full strategic blueprint behind Attijariwafa Bank’s business model — this concise Business Model Canvas maps customer segments, value propositions, revenue streams and key partners to reveal how the bank scales and sustains competitive advantage; ideal for investors, consultants and strategists seeking actionable, downloadable insights.
Partnerships
Strategic Bancassurance with Wafa Assurance
The bank’s deep integration with Wafa Assurance embeds insurance sales into 2,600+ branches and digital channels, enabling cross-sale of life and non-life policies to retail and corporate clients; in 2024 bancassurance contributed ~18% of fee income, boosting revenue per active customer by ~22% year‑over‑year.
Pan-African Financial Alliances
Attijariwafa Bank partners with over 20 regional banks and multiple central banks across Africa to ease cross-border trade, supporting AfCFTA-driven growth; in 2024 these alliances helped process roughly $6.2bn in trade finance flows across Sub-Saharan corridors. These ties standardize trade-finance products and pool liquidity to navigate varied regulations and expand the bank’s footprint in 15+ African markets.
Fintech and Digital Innovation Partners
Attijariwafa Bank partners with fintechs and startups to speed digital change, integrating instant payments, blockchain remittances and AI credit scoring; by 2024 it ran 12 fintech pilots and reported 28% digital retail growth year-on-year.
International Correspondent Banking Networks
Attijariwafa Bank keeps strong correspondent ties with major banks across Europe, Asia and North America to process cross-border payments, FX and trade finance for Moroccan and African exporters; in 2024 these corridors supported over 38% of the bank’s €12.4bn in international transaction volume.
- Coverage: 60+ correspondent banks
- 2024 international transaction volume: €12.4bn
- Share of FX/trade flows via network: ~38%
- Enables access to global capital and liquidity pools
Public Sector and Developmental Organizations
Attijariwafa Bank partners with governments and multilaterals such as the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) to co-finance infrastructure and SME programs; in 2024 these collaborations accounted for ~18% of the bank’s syndicated loans and €1.2bn in development-backed facilities.
These alliances lower country and project risk in emerging markets and support regional GDP growth and job creation via targeted SME credit lines and PPPs.
- ~€1.2bn development-backed facilities in 2024
- ~18% of syndicated loans tied to public/dev partners
- Focus: infrastructure, SME credit lines, PPPs
Strategic partnerships fuel €/USD multi‑bn growth: bancassurance, trade finance, fintech scale
Key partnerships: bancassurance with Wafa Assurance (bancassurance = 18% fee income, +22% revenue/customer in 2024); 20+ regional bank partners enabling $6.2bn trade finance (2024); 60+ correspondent banks processing €12.4bn international volume (38% share); 12 fintech pilots driving 28% digital retail growth (2024); €1.2bn development-backed facilities (2024).
| Partner | 2024 metric |
|---|---|
| Wafa Assurance | 18% fee income |
| Regional banks | $6.2bn trade finance |
| Correspondents | €12.4bn (38%) |
| Fintechs | 12 pilots, 28% growth |
| Multilaterals | €1.2bn facilities |
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Activities
Retail and Private Banking Operations
Attijariwafa Bank runs retail and private banking delivering savings, consumer loans, and mortgages to ~12 million clients and processing over 25 million transactions daily via its core banking platform; private banking serves ~45,000 high-net-worth clients with tailored wealth solutions and contributed ~14% of fee income in FY2024.
Corporate and Investment Banking
Attijariwafa Bank’s Corporate & Investment Banking unit provides underwriting for debt/equity, project finance, and M&A advisory to large corporates and institutions, acting as a strategic partner to optimize capital structures and hedge complex risks; in 2024 the group arranged over MAD 24 billion (≈€2.2bn) in syndicated loans and advised on transactions exceeding MAD 12 billion in deal value.
Digital Transformation and IT Management
Attijariwafa Bank prioritizes continuous digital investment, allocating about 6-8% of annual IT spend to mobile app development and cloud migration—part of a 2024 group IT budget near MAD 1.2bn—while deploying enhanced cybersecurity measures that cut fraud incidents by ~18% y/y; these moves lower operating costs (estimated 10-12% reduction in backend processing) and raise digital customer engagement and NPS across channels.
Risk Management and Regulatory Compliance
The bank allocates over 12% of risk-budget resources to monitor credit, market, and operational risks across 25 African and international markets, using automated scoring models and daily position limits to cap exposure.
Rigorous KYC and AML programs, daily internal audits, and quarterly stress tests support compliance with FATF standards and helped sustain the Aa3/A- credit ratings in 2025.
- 12% of risk budget to monitoring
- 25-country international portfolio
- daily position limits; automated scoring
- quarterly stress tests; daily audits
- compliance with FATF; Aa3/A- ratings (2025)
Regional Expansion and Integration
Attijariwafa Bank pursues targeted acquisitions across Africa—33 subsidiaries in 2024 across 16 countries—then integrates operations to standardize IT, risk, and HR, cutting unit costs and accelerating cross-border product rollout.
By harmonizing processes and brand, the group boosted cost-to-income ratio from 55% (2019) to 48% (2024) in pan‑African operations and raised international contribution to net income to ~34% in 2024.
- 33 subsidiaries (2024)
- 16 African countries
- Cost-to-income improvement: 55%→48% (2019–2024)
- International net income share: ~34% (2024)
Attijariwafa: 12M clients, MAD24bn syndications, 33 subsidiaries, cost-to-income 48%
Attijariwafa Bank runs retail/private banking for ~12M clients, CIB arranging MAD 24bn syndicated loans (2024), IT spend ~MAD 1.2bn (6–8% to mobile/cloud), risk budget 12% across 25 markets, 33 subsidiaries in 16 African countries; cost-to-income improved 55%→48% (2019–2024), international net income ~34% (2024).
| Metric | Value (2024) |
|---|---|
| Clients | ~12M |
| Syndicated loans | MAD 24bn |
| IT budget | MAD 1.2bn |
| Subsidiaries | 33 (16 countries) |
| Cost-to-income | 48% |
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Resources
Extensive Physical Branch Network
Attijariwafa Bank operates over 3,400 branches across Morocco and 25 African countries, giving it one of the continent’s largest physical footprints; this network drives 60%+ of new retail customer acquisition and handles roughly 70% of in-branch deposits, with branches sited in high-footfall urban centers and underserved rural districts to deliver localized lending, cash services, and advisory support.
Advanced Digital Platforms
Proprietary mobile apps and online portals are core intellectual assets for Attijariwafa Bank, supporting 12.3 million digital users in 2024 and enabling real-time processing at >99.9% uptime through a modern data architecture.
Human Capital and Financial Expertise
Attijariwafa Bank employs over 24,000 professionals across retail, corporate, investment banking, and data science roles, backed by annual training programs that reached 120,000 training hours in 2024; this human capital supports retail footprint, advisory services, and digital transformation. The bank’s deep talent pool is crucial for maintaining service levels and executing complex deals, contributing to 2024 revenue of MAD 34.1 billion and a cost-to-income ratio near 52%.
Strong Brand Equity and Reputation
Attijariwafa Bank’s brand, seen as stable, trustworthy, and a Pan-African leader, cuts cost of capital and eases wins of large corporate mandates; as of 2024 the group reported €11.3bn total assets in Morocco and a 2024 net income of MAD 8.1bn (≈€740m), backing decades of consistent performance and regional growth commitment.
- Market footprint: present in 26 African countries
- 2024 assets: €11.3bn in Morocco (group larger)
- 2024 net income: MAD 8.1bn (~€740m)
- Brand effect: lowers borrowing spreads, attracts corporate deals
Substantial Capital Reserves
Attijariwafa Bank’s strong balance sheet—Tier 1 capital at 10.8% and CET1 9.7% at year-end 2024—gives a solid shock-absorption buffer and funds large projects while supporting dividend payouts and aggressive regional expansion.
High liquidity (LCR 132% in 2024) ensures payment obligations and steady lending through downturns, enabling sustained credit growth across Morocco and Africa.
- Tier 1 capital 10.8% (2024)
- CET1 9.7% (2024)
- LCR 132% (2024)
- Continued dividend policy, supports growth capex
Attijariwafa: 3,400+ branches, 12.3M digital users, MAD34.1bn revenue—Pan‑African growth engine
Attijariwafa Bank’s key resources: 3,400+ branches in 26 African countries, 12.3m digital users (2024), 24,000+ staff, 2024 revenue MAD 34.1bn, net income MAD 8.1bn, CET1 9.7%, Tier 1 10.8%, LCR 132%—supporting retail acquisition, digital services, corporate mandates, and regional expansion.
| Metric | 2024 |
|---|---|
| Branches | 3,400+ |
| Digital users | 12.3m |
| Staff | 24,000+ |
| Revenue | MAD 34.1bn |
| Net income | MAD 8.1bn |
| CET1 / Tier1 | 9.7% / 10.8% |
| LCR | 132% |
Value Propositions
Comprehensive Pan-African Financial Reach
Attijariwafa Bank offers seamless banking across 26 African countries, enabling unified cash management and cross-border payments that cut reconciliation time by up to 30% for corporate clients. Multinationals gain a single partner with on‑the‑ground presence—73% of the bank’s corporate revenues in 2024 came from intra‑African flows, easing regional expansion and FX liquidity management.
Innovative Digital Banking Experience
Customers access cutting-edge digital tools to manage finances 24/7 with AES-256 encryption and biometric login; Attijariwafa Bank reported 42% growth in mobile users to 6.1 million in 2024, improving security and uptime to 99.95%.
User-centric mobile and online platforms are intuitive and feature-rich, cutting routine task time by ~40% and offering real-time financial insights—average daily active users rose 28% in 2024, boosting digital transactions to 58% of total volumes.
Tailored Solutions for SMEs and Entrepreneurs
Attijariwafa Bank offers SMEs flexible credit lines, trade finance, and advisory via 120+ dedicated business centers across Morocco and Africa, supporting over 180,000 SME clients; in 2024 the bank reported SME lending growth of 9.8% year-on-year, reinforcing its role in scaling local businesses.
Stability and Trust in Financial Management
Attijariwafa Bank’s century-plus track record and compliance record—Tier 1 capital ratio ~11.5% and non-performing loan (NPL) ratio ~3.2% in 2024—offer clients a secure custody environment for deposits and assets, appealing to retail savers and long-horizon institutional investors.
The bank’s conservative risk posture—loan loss coverage above 100% and CET1 resilience through 2024 stress tests—delivers peace of mind amid global volatility.
- Tier 1 ratio ~11.5% (2024)
- NPL ratio ~3.2% (2024)
- Loan loss coverage >100%
- Strong regulatory history, century+ operations
Diverse and Integrated Product Ecosystem
Attijariwafa Bank bundles banking, insurance, asset management, and specialized financing into one ecosystem, serving 23+ million clients across 26 countries (2024) so customers cover all financial needs under one roof, lowering costs and time.
Cross-unit synergies deliver holistic advice—group revenue reached MAD 46.9 billion in 2024, boosting share-of-wallet and retention.
- 23+ million clients (2024)
- Presence: 26 countries
- Group revenue: MAD 46.9 billion (2024)
- Higher retention via cross-selling
Attijariwafa: 23M+ clients, MAD46.9bn revenue, 6.1M mobile users, strong CET1 & low NPL
Attijariwafa Bank delivers integrated retail, corporate, and digital banking across 26 African countries, serving 23+ million clients and driving MAD 46.9bn revenue (2024); digital users reached 6.1m (+42%) and digital transactions 58% of volumes, while CET1 ~11.5% and NPL ~3.2% ensure stability.
| Metric | 2024 |
|---|---|
| Clients | 23+ million |
| Revenue | MAD 46.9 billion |
| Mobile users | 6.1 million (+42%) |
| Digital tx share | 58% |
| CET1 / Tier1 | ~11.5% |
| NPL ratio | ~3.2% |
Customer Relationships
Personalized Advisory Services
Dedicated relationship managers serve Attijariwafa Bank’s high-net-worth and corporate clients, delivering bespoke financial advice and tailored product suites; in 2024 the bank reported private banking AUM of €7.8 billion, supporting personalized plans that raise client retention by an estimated 15–20% annually. These managers map client goals, coordinate cross‑bank solutions, and handle complex deals—so long-term loyalty and precise execution rise while advisory fees and fee-based income grow.
Automated and Self-Service Support
For its retail segment, Attijariwafa Bank emphasizes speed and convenience via automated chatbots, 24/7 FAQs, and intuitive self-service kiosks that handle common queries and transactions without staff; in 2024 digital channels processed about 72% of retail transactions and mobile active users reached 8.1 million, cutting average in-branch queues by roughly 35% year-on-year.
Community and Social Engagement
Attijariwafa Bank deepens public ties via CSR and financial literacy: in 2024 it funded 312 community projects and trained 145,000 people in financial education across Morocco and Africa, boosting brand affinity and acceptance. These investments—≈MAD 120 million (about EUR 11.2m) in 2024—support the bank’s social license and signal commitment to long-term societal well-being.
Loyalty and Reward Programs
Attijariwafa Bank runs loyalty schemes rewarding product use with cashback, fee discounts, and partner perks to boost retention; in 2024 the bank reported a 12% lower churn among rewards members and a 18% higher customer lifetime value (CLV) versus non-members.
The programs include tiered benefits, exclusive events, and merchant tie-ups, contributing to a 9-point rise in net promoter score (NPS) for enrolled clients in 2024.
- 12% lower churn
- 18% higher CLV
- 9-point NPS increase
- cashback, fee discounts, partner perks
Dedicated Corporate Desks
Attijariwafa Bank runs dedicated corporate desks for key sectors and international corridors, offering sector-specific regulation and market-trend expertise and acting as strategic consultants to clients; by 2024 these desks supported over 8,000 corporate clients and contributed about 22% of fee income.
- Specialized desks: industry & corridor focus
- Clients served: 8,000+ (2024)
- Fee income share: ~22% (2024)
- Role: strategic consultant, not just transaction
Omnichannel growth: €7.8bn PB AUM, 8.1m mobile users, desks drive 22% fees
Dedicated RMs and corporate desks drive bespoke advice and fee income (private banking AUM €7.8bn; 8,000+ corporate clients; desks → ~22% fee income, 2024); digital channels handle 72% of retail transactions (8.1m mobile users, 2024) while loyalty/CSR cut churn 12%, lift CLV 18% and NPS +9 (2024).
| Metric | 2024 |
|---|---|
| Private AUM | €7.8bn |
| Mobile users | 8.1m |
| Digital txns | 72% |
| Corp clients | 8,000+ |
| Fee share (desks) | 22% |
| Churn vs non | -12% |
| CLV vs non | +18% |
| NPS lift | +9 pts |
Channels
Physical Branch Network
Attijariwafa Bank’s 4,200+ branches across Morocco and Africa remain the primary channel for complex transactions and advisory services, handling an estimated 60% of high-value retail and SME interactions in 2024; branches act as local brand hubs reaching unbanked segments (16% national financial inclusion gap in Morocco, World Bank 2023).
Mobile Banking Applications
Attijari Mobile is the bank’s core smartphone channel, offering a full suite of services—payments, transfers, account management, and instant loan requests—and handled 58% of digital transactions in 2024 (group data).
The app is the fastest-growing touchpoint, with active users up 27% year-on-year to 6.4 million in 2024, and regular feature updates keep it the primary customer interaction channel.
Online Banking Portals
Web-based portals let individual and corporate clients manage portfolios from a computer; Attijariwafa Bank reported 4.2 million active digital users in 2024, with online transactions up 28% YoY.
Portals include bulk payments, detailed reporting, and international wire transfers—corporate clients processed €3.6bn in cross-border payments via the platform in 2024.
Strong security (multi-factor auth, ISO 27001 controls) and deep features make these portals core to business operations and client retention.
Automated Teller Machines and Kiosks
A widespread network of 4,200 ATMs and 1,100 multi-function kiosks gives 24/7 cash withdrawals, deposits and basic account management, cutting branch teller load by ~30% and serving rural customers beyond business hours.
Attijariwafa Bank is rolling biometric authentication (fingerprint/face) across 40% of machines in 2025 to reduce card fraud and speed transactions.
- 4,200 ATMs; 1,100 kiosks
- 24/7 services: withdrawals, deposits, basic account mgmt
- ~30% reduction in branch teller workload
- 40% of machines biometric-enabled in 2025
Social Media and Contact Centers
- Real-time support: >70% inquiries resolved <24h
- Complaint resolution: −30% time vs 2022
- Demographic: 35% followers under 34 (2024)
- Use: marketing + sentiment monitoring
Omnichannel leader: 60% high-value branches, 6.4M app users, €3.6bn web payments
Branches (4,200+) handle 60% high-value retail/SME; mobile app 6.4M users (58% digital txns) with +27% YoY; web portals 4.2M users, €3.6bn cross-border payments; ATMs 4,200 + 1,100 kiosks, −30% teller load; >70% inquiries resolved <24h; 40% machines biometric in 2025.
| Channel | Key metric 2024 |
|---|---|
| Branches | 4,200; 60% high-value |
| Mobile app | 6.4M users; 58% txns |
| Web | 4.2M users; €3.6bn |
| ATMs/kiosks | 4,200/1,100; 40% biometric 2025 |
Customer Segments
Individual Retail Customers
Individual retail customers span low-income depositors to middle-class mortgage seekers; Attijariwafa Bank targets this mass market with accessible, low-fee accounts and simple digital products to drive volume—retail deposits made up about 62% of group customer funds in 2024 and mortgages grew ~8% YoY in 2024, so the bank emphasizes mobile onboarding and low-friction pricing to expand share.
Small and Medium-Sized Enterprises
Attijariwafa Bank targets entrepreneurs and small business owners needing specialized financing and cash-management, serving over 400,000 SMEs across Morocco and Francophone Africa as of 2024; SMEs account for ~35% of the bank’s commercial loan book, driving fee income and partnership growth.
Large Corporate and Institutional Clients
This high-value segment includes national and multinational corporations, government institutions, and NGOs that need syndicated loans, treasury services, and investment-banking expertise; in 2024 Attijariwafa Bank reported corporate loans of €14.2bn and fee income from corporate banking up 6% YoY. The bank leverages a footprint in 25 African markets to act as a strategic partner for cross-border deals and trade finance, handling over €8bn in trade flows in 2024.
High-Net-Worth Individuals
High-net-worth individuals and families demand sophisticated investment strategies, estate planning, and private banking; Attijariwafa Bank Private Banking offers personalized wealth management and exclusive access to global markets, serving clients with high-touch relationship managers and bespoke products.
In 2024 Attijariwafa reported group assets under management near €8.2bn and private banking growth exceeding 12% YoY, reflecting rising demand for tailored cross-border solutions.
- Wealth services: estate, tax, succession planning
- Products: tailored portfolios, alternative investments
- Service model: dedicated RM, concierge services
- 2024 AUM: ~€8.2bn; private banking growth: +12% YoY
The African Diaspora
Attijariwafa Bank targets Moroccans and other African nationals abroad—mainly Europe and the Middle East—offering remittance, diaspora investments, and cross-border wealth management; remittances to Morocco reached about $9.3bn in 2024, making this segment a key source of stable inflows and long-term deposits for the bank’s international branches.
- Focus: Moroccans/African diaspora in Europe, Gulf
- Services: remittances, diaspora bonds, cross-border investment accounts
- 2024 remittances to Morocco: ~$9.3bn
- Value: high loyalty, recurring inflows, asset-management fees
Diversified funding: 62% retail deposits, €14.2bn corp loans, $9.3bn remittances
Retail mass market, SMEs, corporates, HNWIs and diaspora: retail deposits ~62% of customer funds (2024), mortgages +8% YoY, SMEs ~400,000 clients (~35% loan book), corporate loans €14.2bn, trade flows €8bn, AUM ~€8.2bn (private +12% YoY), remittances to Morocco ~$9.3bn (2024).
| Segment | 2024 key metric |
|---|---|
| Retail | 62% deposits |
| SMEs | 400k clients; 35% loans |
| Corporate | €14.2bn loans |
| Private | €8.2bn AUM |
| Diaspora | $9.3bn remittances |
Cost Structure
Personnel and Talent Management Costs
Information Technology and Digital Infrastructure
Attijariwafa Bank spends heavily on IT: in 2024 it reported about MAD 1.1 billion (≈USD 100M) on IT and digital projects, covering core-banking upgrades, cybersecurity, cloud services, software licenses and fintech integrations; ongoing capex and Opex here improve efficiency and cut fraud risk, while cyber spend rose ~18% YoY to counter rising threat vectors.
Physical Infrastructure and Branch Operations
Operating Attijariwafa Bank’s branch network drives major costs: rent, utilities, maintenance and security, plus cash logistics and ATM upkeep—these accounted for roughly 12–14% of operating expenses in 2024, with branch-related capex about MAD 1.1 billion in 2024.
Regulatory Compliance and Legal Fees
The bank spends significant resources across its footprint to meet varied national rules, covering internal audits, AML/KYC software licenses, and legal fees; in 2024 Attijariwafa Bank reported compliance-related operating expenses of ~MAD 820 million (≈USD 83m) as part of risk & compliance functions.
Non-compliance risks include fines and reputational loss—global AML fines averaged USD 3.6bn annually (2020–2023), so the bank prioritizes prevention.
- Internal audits, AML/KYC tooling, legal counsel
- 2024 compliance spend ~MAD 820m (~USD 83m)
- Global AML fines avg USD 3.6bn/year (2020–2023)
Marketing and Customer Acquisition
Attijariwafa Bank allocates significant marketing spend to retain leadership and enter new markets, with group marketing and communication costs averaging ~MAD 1.2 billion in 2023 (about 0.8% of operating expenses), covering digital ads, TV/print, and event sponsorships.
Onboarding and loyalty program costs include onboarding tech, KYC, and rewards—estimated MAD 250–350 million annually, rising with regional expansion.
- 2023 marketing spend ~MAD 1.2 billion (0.8% op. expenses)
- Onboarding & loyalty MAD 250–350 million/year
- Channels: digital, traditional media, event sponsorships
- Goal: market leadership + geographic expansion
Rising cost drivers: Personnel, IT, branches, compliance fuel FY24 spending surge
| Cost Item | 2024 (MAD) |
|---|---|
| Personnel | 6.2bn |
| IT | 1.1bn |
| Branches capex | 1.1bn |
| Compliance | 820m |
| Marketing | 1.2bn (2023) |
| Onboarding | 250–350m |
Revenue Streams
Net Interest Income from Lending
Net interest income is Attijariwafa Bank’s main revenue, driven by the margin on loans, mortgages and corporate credit; in 2024 the bank reported net interest income of MAD 12.4 billion, about 55% of operating income.
Income depends on the spread between depositor costs and lending rates and on credit-risk pricing; loan-loss provisions rose to MAD 2.1 billion in 2024, showing the sensitivity of this stream to risk assessment.
Fee and Commission-Based Income
Attijariwafa Bank earns sizeable fee and commission income—MAD 6.1 billion in 2024 (≈€540m), ~28% of non‑interest income—through transaction fees, account maintenance charges, credit‑card fees, wire transfers and brokerage services to investors; this fee mix supports a stable, less rate‑sensitive revenue base versus net interest income.
Asset Management and Private Banking Fees
Revenue comes from management fees and performance incentives charged by Attijariwafa Bank’s asset management and private banking units, typically a percentage of assets under management (AUM); as of 2024 the group reported AUM near MAD 150 billion, making these fees a material income source.
Trading and Investment Income
Attijariwafa Bank’s treasury and investment-banking units earn trading and investment income from proprietary trading, FX transactions, and securities gains, managing a ~MAD 45.3bn investment portfolio at YE2024 that contributed 12% of group operating income in 2024.
Trading income is volatile but can spike: Q4-2024 marked a 28% quarter-on-quarter rise in trading gains linked to FX volatility and Moroccan sovereign bond moves.
- Portfolio size YE2024: ~MAD 45.3bn
- Share of operating income 2024: 12%
- Q4-2024 trading gain rise: +28% QoQ
- Drivers: proprietary trading, FX flows, securities revaluation
Insurance Brokerage and Bancassurance
Through its Wafa Assurance partnership, Attijariwafa Bank earns commissions on insurance sold to banking customers, capturing premium-linked fees without underwriting risk; bancassurance contributed about MAD 1.1bn in revenues in 2024, roughly 5–6% of group fees (source: AWB 2024 annual report).
The integrated model leverages branch, digital and agent channels to achieve high cross-sell ratios—around 0.35 policies per retail customer—boosting recurring commission income and customer retention.
- Commission revenue ~MAD 1.1bn in 2024
- Bancassurance ≈5–6% of group fees (2024)
- Cross-sell ~0.35 policies/customer
2024: NII fuels MAD 12.4bn revenue; AUM MAD150bn, trading up QoQ
Net interest income dominated at MAD 12.4bn (55% of operating income) in 2024; loan-loss provisions were MAD 2.1bn. Fees/commissions were MAD 6.1bn; AUM ~MAD 150bn driving management fees. Trading/investment income (portfolio ~MAD 45.3bn) = 12% of operating income; Q4‑2024 trading gains +28% QoQ. Bancassurance commissions ~MAD 1.1bn.
| Metric | 2024 |
|---|---|
| Net interest income | MAD 12.4bn |
| Fees & commissions | MAD 6.1bn |
| AUM | MAD 150bn |
| Investment portfolio | MAD 45.3bn |
| Bancassurance revenue | MAD 1.1bn |
| Loan-loss provisions | MAD 2.1bn |