The two leaders in the banking sector are neck and neck. Thus, Attijariwafa Bank holds 23.79% of the outstanding credit market share against 23.78% for the BCP.
The Horse Bank is first in terms of deposits with 26.28% of market share against 24.97% according to the figures of the “Analysis & Research” department of the stock company Crédit du Maroc Capital (CDMC). The two leaders are in a pocket handkerchief on net banking income.
Thus, Attijariwa Bank presents a GNP of 11.5 billion dirhams (1.26 billion dollars) against 11.43 billion dirhams for the BCP (1.25 billion dollars). The two leaders in the sector are followed by BMCE Bank Of Africa, third in terms of banks’ market shares in terms of credit, deposits and net banking income.
The first two banks in Morocco present quite different models, BCP and its cooperative model having been at all times the bank of the diaspora, Attijariwafa Bank, born from the merger between the BCM and Wafa Bank, symbolizing the revival of Moroccan finance in the mid-2000s. As its name suggests, PCO reaches more popular and diversified fringes through a network of 9 regional popular banks.
As a subsidiary of the holding company Al Mada (former SNI) present in the agribusiness, retail and, among others, renewable energy, Attijariwafa bank, institution of the establishment, relies on an ecosystem more than ever oriented Africa.
Outside Morocco, the match between the two institutions also takes place in West Africa where, thanks to its first incursions in 2008, Attijariwafa Bank built a network of subsidiaries following various acquisitions (BIM in Mali, BST in Senegal, SIB in Ivory Coast, etc.). It was not until 2012 to see the BCP land on the other side of the Sahara, by taking over the network of the Atlantic Bank through the holding ABI.
If both pursue their development strategies in Africa with the first, a major acquisition in Egypt (the Barclays Egypt network) and the second, in Niger (BIA), it should be said, the BCP has been deported to another context, the Indian Ocean, with the acquisition last February of the Mascarene Bank, a credit institution based in Mauritius and with a subsidiary in Madagascar, previously controlled by the French BPCE. The latter, present in the capital of BCP, intends to sell all its African subsidiaries, reviving the classico between the two banks. An air of remontada?
