Live Attijariwafa Bank share price on the Bourse de Casablanca. ATW is Morocco's largest bank by assets and market capitalization, with operations across Africa and Europe. A key component of the MASI index.
Cours de l'action Attijariwafa Bank en direct. ATW est la première banque marocaine par les actifs et la capitalisation boursière, avec des opérations en Afrique et en Europe.
Attijariwafa Bank est le premier groupe bancaire au Maroc et en Afrique francophone. Fondée en 2003 par la fusion de la Banque Commerciale du Maroc (BCM) et de Wafabank, ATW est présente dans plus de 25 pays. Le groupe Al Mada (anciennement SNI), holding de la famille royale, en est l'actionnaire de référence.
Attijariwafa Bank is the leading banking group in Morocco and francophone Africa. Formed in 2003 through the merger of Banque Commerciale du Maroc (BCM) and Wafabank, ATW operates in over 25 countries. The Al Mada group (formerly SNI), the royal family's holding company, is the reference shareholder.
Le principal moteur de la rentabilité d'ATW est le taux directeur fixé par Bank Al-Maghrib. Une hausse du taux directeur améliore les marges d'intérêt nettes de la banque (la différence entre ce qu'elle gagne sur les prêts et ce qu'elle paie sur les dépôts). Inversement, une baisse des taux comprime les marges.
The primary driver of ATW's profitability is the key interest rate set by Bank Al-Maghrib. A rate increase improves the bank's net interest margins (the difference between what it earns on loans and pays on deposits). Conversely, a rate cut compresses margins.
ATW bénéficie directement de la croissance du crédit au Maroc, notamment le crédit immobilier et le crédit à la consommation. La croissance économique marocaine, les projets d'infrastructure (Coupe du Monde 2030) et la demande de crédit des ménages sont des catalyseurs importants pour le volume d'activité de la banque.
ATW directly benefits from credit growth in Morocco, particularly mortgage lending and consumer credit. Moroccan economic growth, infrastructure projects (2030 World Cup), and household credit demand are important catalysts for the bank's business volumes.
ATW poursuit une stratégie d'expansion en Afrique subsaharienne et en Afrique du Nord. Les filiales africaines contribuent de manière croissante au résultat net du groupe. La performance de ces filiales (Côte d'Ivoire, Sénégal, Égypte, Tunisie) influence directement la valorisation d'ATW.
ATW is pursuing an expansion strategy across sub-Saharan and North Africa. African subsidiaries contribute an increasing share of the group's net profit. The performance of these subsidiaries (Côte d'Ivoire, Senegal, Egypt, Tunisia) directly influences ATW's valuation.
Le secteur bancaire représente environ 30 à 35% de la capitalisation du MASI. ATW en est la plus grande composante. Le secteur est bien régulé par Bank Al-Maghrib avec des ratios de solvabilité conformes aux standards de Bâle III. Les trois principales banques (ATW, BCP, BOA) dominent le marché.
The banking sector represents approximately 30–35% of MASI market capitalization. ATW is the largest component. The sector is well-regulated by Bank Al-Maghrib with solvency ratios in line with Basel III standards. The three main banks (ATW, BCP, BOA) dominate the market.
ATW is the largest market capitalisation on the Casablanca Stock Exchange and effectively a proxy for Moroccan credit growth. When the economy expands and businesses borrow more, ATW’s loan book grows and its PNB (Produit Net Bancaire — net banking income) expands. When the economy slows, the reverse happens, and ATW usually leads the MASI downward. Because of its sheer weight in the index, a strong ATW earnings day can push the MASI headline number up even when mid-cap stocks are mixed.
The single most important external variable is the Bank Al-Maghrib key rate. When BAM raises the rate, ATW’s net interest margin widens almost immediately — the bank reprices variable-rate loans faster than it adjusts deposit rates. When BAM cuts, the opposite happens, and the market often reprices ATW before the rate decision is officially announced because consensus expectations leak through the money market curve.
Beyond domestic Morocco, ATW’s African subsidiaries (Côte d’Ivoire, Senegal, Egypt, Tunisia, and a dozen smaller markets) contribute a growing share of group net income. The quality of those earnings matters: African provisions for bad loans can spike during local recessions, compressing group ROE even when the Moroccan core business is performing well. Investors who watch ATW seriously track cost of risk in basis points, not just headline profit.
The most recent half-year report continues ATW’s pan-African expansion narrative. Consolidated PNB — the net banking income line — reflects both the domestic interest margin and commissions from the corporate and investment banking arm. Net income group share followed PNB with the usual lag, and the gap between the two lines is where cost of risk lives: a wider gap signals either higher provisioning on a specific loan portfolio or softer fee income from capital markets activity.
The parser extracts consolidated group-share figures only. Social-account values (which report the central entity in isolation, excluding subsidiaries) are excluded to avoid mixing reporting scopes. Non-recurring items, restructuring charges, and movements in minority interests are left to the source filing on the AMMC website.
The price card shows ATW's last traded price, delayed 15–30 minutes. Because ATW is the single largest component of the MASI by market capitalisation, its daily move often drags the index with it - a strong ATW session can make the MASI look healthy even when mid-caps are flat. When the data feed is down or the session has ended, the card shows a reference value with an amber INDICATIVE chip. Treat it as yesterday's close, not today's price.
The stat bar provides market context: the MASI index tells you whether the broader Casablanca market rose or fell, BCP gives you a comparison against the second-largest banking stock (the two often move in the same direction but diverge on earnings days), EUR/MAD matters because ATW's African subsidiaries generate revenue in CFA franc and other currencies with euro-linked pegs, and the BAM rate is the single most important macro variable for ATW's net interest margin.
For a bank, the headline number most investors watch is PNB (Produit Net Bancaire - net banking income), not revenue in the industrial sense. PNB captures interest income, fee income, and trading income after interest expense. Below PNB, focus on net income and ROE. ATW typically targets an ROE between 12% and 20% - if a filing shows ROE dipping below 12%, the market usually reacts. Cost of risk (provisions for bad loans) is the other number that can swing results quarter to quarter, especially during economic slowdowns.