The 2024 rankings by The Banker magazine highlight the impressive performance of Moroccan banks, with eight of them securing spots among the top 100 in the Arab world. Attijariwafa Bank stands out by climbing to the 21st position, marking a significant improvement from the previous year. Close behind is Groupe Banque Populaire, ranking 25th, while Bank of Africa maintains its 36th place.
Other Moroccan financial institutions are also making notable strides. Société Générale Maroc has risen to 56th place, and Crédit Agricole du Maroc advanced to the 62nd spot. Crédit Immobilier et Hôtelier (CIH) holds steady at 70th, with BMCI and Crédit du Maroc securing the 75th and 81st positions, respectively. These results underscore the resilience and adaptability of Moroccan banks amid regional economic challenges.
The 2024 rankings by The Banker reveal a more balanced dynamic between banks in the Gulf Cooperation Council (GCC) countries and those in other Arab regions. While GCC banks have experienced modest asset growth, non-GCC banks have recorded significant increases in pre-tax profits, driven in part by the strong performance of Jordanian and Egyptian banks.
Despite this shift, Saudi banks continue to dominate the Arab banking landscape, with a strong presence in the top 10. Saudi National Bank remains at the top, closely followed by Al Rajhi Bank, which has surpassed Qatar National Bank to claim the second spot.
Banks in the United Arab Emirates have also solidified their positions in 2024, making the UAE the second-largest banking market in the GCC after Saudi Arabia. Their Tier 1 capital and assets have seen notable growth, fueled by rising interest income and improved asset quality.
Among Emirati banks, Abu Dhabi Commercial Bank has overtaken Riyad Bank to become the sixth-largest lender in the Arab world. Emirates NBD, meanwhile, has bolstered its standing as the largest bank in the UAE and the fourth largest in the region, thanks to impressive pre-tax profit growth.
