Attijariwafa Bank, a leading Moroccan lender, has reported sustained growth in its financing for enterprises and equipment, driven by the country's accelerating investment cycle. According to a note published by BMCE Capital Global Research (BKGR) on September 24, the bank's equipment credits increased by 36% in the first half of 2026, reaching 142 billion dirhams. This growth outpaced the overall market, which saw a 32.3% year-on-year increase in equipment credits to 344.2 billion dirhams.
The bank's financing for enterprises also saw significant growth, increasing by 14% to 227 billion dirhams in the first half of 2026. This strong performance was driven by major infrastructure projects, investments in renewable energy, and the development of export-oriented industries such as aerospace and electric vehicles. BKGR expects this trend to continue, with Attijariwafa Bank's net credit portfolio projected to reach 481.5 billion dirhams in 2026 and 515.2 billion dirhams in 2027.
The bank's growth is also being driven by its international operations and its new strategic plan, "GOAL 2030". BKGR identified these as key drivers of growth, along with the bank's improving risk profile. The research firm expects the bank's corporate segment to remain the main contributor to its growth. Attijariwafa Bank's ability to capitalize on the accelerating investment cycle in Morocco has positioned it as a major beneficiary of the trend.
The Moroccan banking sector has seen a significant increase in equipment credits, with a 32.3% year-on-year growth to 344.2 billion dirhams at the end of June. Attijariwafa Bank has captured a significant share of this market, accounting for 53% of new equipment credits in 2025. The bank's growth in equipment credits has outpaced the overall market, demonstrating its strong position in the sector.
BKGR expects Attijariwafa Bank's growth to continue, driven by its diversified business model and strong franchise. The bank's deposits have also seen significant growth, increasing to 553.8 billion dirhams at the end of June 2026. The bank's liquidity profile remains strong, with nearly 74% of its deposits in the form of non-remunerated resources.
The bank's financial performance has also been strong, with its consolidated net banking income reaching 18.4 billion dirhams in the first half of 2026. This represents a 4% increase, driven by growth in interest income and commissions. The bank's net profit is expected to be 37.1 billion dirhams in 2026, according to BKGR projections.
Attijariwafa Bank's growth strategy is focused on supporting Morocco's economic development, particularly in key sectors such as infrastructure, renewable energy, and export-oriented industries. The bank's strong performance is expected to continue, driven by its diversified business model and strong franchise.
Key points
- Attijariwafa Bank's equipment credits increased by 36% in the first half of 2026.
- The bank's financing for enterprises grew by 14% to 227 billion dirhams in the first half of 2026.
- Attijariwafa Bank's net credit portfolio is projected to reach 481.5 billion dirhams in 2026 and 515.2 billion dirhams in 2027.
