Moroccan Banks Dominate West African Financial Market, Outpacing French Rivals

In the 2021 annual report of the WAEMU Banking Commission published a few days ago, it appears that Attijariwafa Bank, Bank Of Africa, Banque Populaire far exceed the French banks present in West Africa. The report points out that "these banking institutions concentrate 21.7% of the market share, 23.1% of deposits, 23% of loans granted to customers and 26.6% of the provisional overall net profit".

These Moroccan groups also represent 20% of the establishments, 22.7% of ATMs, 28.1% of bank accounts and 24.0% of the workforce. Bank Of Africa (BOA) outperforms the other two Moroccan banks with an 8% market share. It is followed by Banque Populaire (BP) with 7.3%. Attijariwafa Bank (AWB) comes in last with 6.4%.