Moroccan Royal-backed Al Mada sees $270 million gain from Attijariwafa Bank shares

The Alaouite royal family of Morocco’s Al Mada, a major private Pan-African investment holding company headquartered in Casablanca, Morocco, has witnessed a remarkable surge in their investment this year, driven by a significant increase in the premier bank’s share price on the Casablanca Stock Exchange(CSE).

Royal family gains $271.9 million
Al Mada, the largest shareholder in Attijariwafa Bank with a 46.54% stake, equivalent to 100.1 million shares held through Societe Nationale d’Investissement (Al Mada), the royal family’s stake has risen by MAD2.49 billion ($271.92 million) since January 1.

The bank’s shares have risen by 3.41% on the Casablanca bourse this year, reinforcing the family’s position among the world’s wealthiest royals.

Between January 11 and February 19, the market value of their stake jumped by $271.9 million, from MAD73.11 billion ($7.97 billion) to MAD75.6 billion ($8.24 billion), reflecting strong investor confidence in the bank. This performance highlights Attijariwafa Bank’s position as a leading North African financial institution and the royal family’s key role in the region’s economy.

Attijariwafa hits $16 billion market cap
Attijariwafa Bank, Morocco’s largest bank and the fifth-largest in Africa, boasts a century of expertise and a global presence with about 21,293 employees across roughly 27 countries across Africa, Europe, and the Middle East.

Headquartered in Rabat, the bank serves a diverse clientele of 10 million retail, professional, corporate, and institutional customers. 

Since January, its shares have risen 3.41 percent, from MAD730.10 ($46.39), contributing to a market capitalization growth of MAD148.21 billion ($16.17 billion).