Morocco’s largest lender, Attijariwafa
Bank, has posted net profits for fiscal 2009 of MAD3.9bn ($474.4m),
an increase of 26.4% compared with the previous year, on a 20.9%
increase of revenue to MAD13.3bn.
In the past year, the bank has grown its branch
network by almost 25% to 1,806 outlets serving 4.2m customers; it
has set a target of serving 6m clients by 2012.
The bank has said it will continue to expand
further in Africa, following acquisitions in recent years in
Senegal, Congo, Cameroon and Ivory Coast. Africa currently accounts
for around 15% of the bank’s revenue.