Globally, banks have over $370 trillion in assets under management, which is predicted to reach $550 trillion in the next decade.
In Morocco, the country’s largest bank, Attijariwafa, has reported a 26% increase in profits for 2024, reaching nearly $1 billion. The bank serves an impressive 12 million customers and has total assets of $65.6 billion. Attijariwafa operates in 26 countries worldwide, primarily in Europe, Africa, and the Middle East. The bank also reported a 10.3% increase in deposits and a 3.5% rise in loans.
Analysts attribute this increase to the substantial economic activities in the construction sector as the kingdom prepares for the 2030 World Cup. Additionally, investments in green technology and the kingdom’s political, security, and economic stability make it an attractive destination for international investors, mainly from Europe and the Gulf region.
The Libyan Foreign Bank (LFB) reported a net profit of $440 million for 2024 and a total profit of $1.2 billion from 2022 to 2024. This profitability is attributed to the bank’s operations across 27 banking centers located in Europe and Africa.
Algeria’s state-owned Banque Nationale d’Algérie (BNA), the largest bank in the country, reported a net profit of $440.3 million in 2024. The bank aims to become a significant player in Algeria’s Islamic banking sector.
In Egypt, the largest private bank, the Commercial International Bank (CIB), reported a net profit of $1 billion for 2024. The bank has attributed this success to the 21 % increase in deposits in local currency and a 16% increase in foreign currency deposits. In addition, the bank has reported a 47% increase in borrowing. With over 83,000 small to medium-sized (SME) clients, the bank firmly positions itself within the business community, totaling $1.9 billion in deposits.
For international banks to thrive in today’s highly competitive industry, executives need to prioritize transformation with a focus on technology and geopolitical shifts. Investing in financial technology (FinTech), particularly in digital services and expansion into emerging markets, is essential. Additionally, banks in this region must work to catch up technologically, especially since many financial institutions in the developed world are beginning to integrate artificial intelligence into their operations.
Masinessa “Omar” khattaly
Khattaly International consulting-USA
