Casablanca – Attijariwafa Bank, Morocco’s largest banking group, is on track to achieve net profits of approximately $1.03 billion by the end of 2025, according to recent financial data and analyst reports. This would make it the first listed company in Morocco to surpass the $1 billion profit mark in a single year.
The strong performance of Attijariwafa Bank reflects the overall growth of the Moroccan banking sector, which showed resilience and notable expansion during the first nine months of 2025. Data from Attijari Global Research (AGR) and official bank disclosures indicate that net profits attributable to shareholders reached $856 million by the end of September, representing about 80% of AGR’s annual forecast.
Meanwhile, CIH Bank (Crédit Immobilier et Hôtelier) also reported significant results, with net profits of $89 million, a 31% increase from 2024, equivalent to 79% of AGR’s projected $112 million for the year. Forecasts suggest that CIH Bank will exceed $103 million in profits for the first time in its history in 2025.
Strong growth across key financial metrics
In addition to profits, Attijariwafa Bank achieved solid growth across several operational indicators. Consolidated net income rose to $990 million, up from $865 million in September 2024, reflecting 13.4% growth. Net banking income, a key measure of core operations, reached $2.72 billion, increasing 4.7% year-on-year.
Deposits and loans grew by 8.6% and 5.4%, respectively, supported by higher savings mobilization and continued financing of economic projects in Morocco. Operating profits increased to $1.45 billion, a 10% rise, driven by a decline in the cost of risk, which fell 18.7% to $278 million, equivalent to 0.78% of gross customer receivables, down from 1.01% a year earlier.
On the financial strength front, total equity rose 11.4% to $8.02 billion by the end of September 2025, up from $7.19 billion in the same period of 2024.
Sector performance and market position
AGR’s report on the AGR-30 index, which includes Morocco’s largest listed companies, underscores the dominance of the banking sector in profitability. Analysts note that Attijariwafa Bank remains the only Moroccan bank expected to exceed $1 billion in annual profits, reflecting its leadership in financial strength and market reach.
The report highlights the distribution of expected profits among index constituents as follows:
- 8 companies (43% of market capitalization) are projected to earn $103 million–$1.03 billion.
- 7 companies (18% of market capitalization) are expected to post $51–$103 million.
- 12 smaller companies (9% of market capitalization) may generate $10–$51 million.
- Only 5 companies (2% of market capitalization) are expected to record less than $10 million.
This distribution highlights the concentration of financial power in a small number of major companies, emphasizing the role of Attijariwafa Bank and CIH Bank as the primary drivers of growth in Morocco’s banking sector.
Outlook for 2025 and beyond
The year 2025 is expected to be transformative for Morocco’s banking sector, with new companies listing on the stock exchange, increased investment in digital banking, and expanded financing for major industrial projects. Surpassing $1 billion in profits will mark a historic achievement for Attijariwafa Bank, reinforcing its leadership position in the Moroccan financial market.
