Saham Bank has earned its first-ever international credit rating, with Fitch Ratings assigning it a “BB” score and a stable outlook. The move is a significant endorsement of the Moroccan bank’s strategic direction and financial stability, confirming its rising stature within both domestic and international markets.
In its assessment, Fitch highlighted the bank’s solid financial foundation, particularly its strong capitalization and stable funding structure. Saham Bank currently boasts a Common Equity Tier 1 (CET1) ratio of 13.9% for 2024, positioning it as a frontrunner in Morocco’s banking sector. Another key indicator drawing praise was the 17% year-over-year jump in net profit during the first quarter of 2025, reflecting the bank’s steady growth and effective risk management.
A major strength lies in the bank’s funding model, which relies heavily—83%—on customer deposits. A significant portion of those are non-interest-bearing checking accounts, giving Saham Bank a notable advantage in terms of funding costs. This structure enables the bank to remain competitive while maintaining a resilient financial base.
Fitch also reaffirmed Saham Bank’s national ratings: “AA(mar)” for long-term and “F1+(mar)” for short-term creditworthiness. These ratings further cement the bank’s position as one of the most trusted financial institutions in Morocco.
Originally founded in 1913 under the name Société Générale Marocaine de Banques, the institution has undergone a sweeping transformation. Today, Saham Bank is sharpening its focus on large corporations while expanding its services to small and medium-sized businesses as well as individual clients.
Backed by new ownership, the bank is embracing digital innovation and aiming to play a key role in fostering financial inclusion and economic transformation in Morocco. According to CEO Ahmed El Yacoubi, this international rating marks a pivotal moment in Saham Bank’s global positioning and signals a new phase in its development.
