Economic Research | Country Risk Weekly Bulletin | Country Risk Weekly Bulletin 574 | Agency takes rating actions on five Moroccan banks | Lebanon | Byblos Bank

You are being redirected to .

 

Please Rotate your screen to portrait, for best viewing.

Byblos Bank

Country Risk Weekly Bulletin 574

|

Agency takes rating actions on five Moroccan banks

Fitch Ratings affirmed at 'BB+' the long-term foreign- and local-currency Issuer Default Ratings (IDRs) of Attijariwafa Bank (AWB), BMCE Bank and Crédit Immobilier et Hôtelier (CIH). Also, it affirmed at 'AAA(mar)' the ratings of Société Générale Marocaine de Banques (SGMB) and Banque Marocaine pour le Commerce et l'Industrie (BMCI), and at 'AA-(mar)' those of AWB, BMCE Bank and CIH. It maintained the 'stable' outlook on all the banks' ratings, in line with the outlook on the sovereign. The agency noted that the IDRs of AWB and of BMCE Bank are driven by a moderate probability of support from the Moroccan government. It added that the ratings of BMCI and of SGMB reflect a high probability of support from the banks' respective major shareholder BNP Paribas and Société Générale (SG), while the ratings of CIH are underpinned by potential support from its major shareholder Caisse des Dépôt et Gestion. In parallel, Fitch upgraded the Viability Rating (VR) of BMCE Bank from 'b+' to 'bb-', due to the improvement in the bank's risk appetite, while it maintained at 'bb-' the VR of AWB and CIH. It pointed out that AWB's VR is supported by the bank's strong franchise, balanced business model, strong funding and liquidity profiles, robust earnings, as well as stable deposit base, but is constrained by the bank's weak asset quality and capitalization metrics. 
Source: Fitch Ratings
 
Cookies Information

To optimize this website's functionality, we may utilize cookies, which are small data files stored on your device. This common practice helps improve your browsing experience.

Privacy settings

Choose which cookies you wish to enable.
You can change these settings at any time. However, this can result in some functions no longer being available. For more information on deleting cookies, please consult your browser help function.
LEARN MORE ABOUT THE COOKIES WE USE.

Use the slider to enable or disable various types of cookies:

Necessary
Functionality
Analytics
Marketing

This website will:

  • Remember your cookie permission setting
  • Allow session cookies
  • Gather information you input into a contact forms, newsletter and other forms across all pages
  • Helps prevent Cross-Site Request Forgery (CSRF) attacks
  • Preserves the visitor's session state across page requests
  • Remember personalization settings
  • Remember selected settings
  • Keep track of your visited pages and interaction taken
  • Keep track about your location and region based on your IP number
  • Keep track on the time spent on each page
  • Increase the data quality of the statistics functions
  • Use information for tailored advertising with third parties
  • Allow you to connect to social sites
  • Identify device you are using
  • Gather personally identifiable information such as name and location

This website won't:

  • Remember your cookie permission setting
  • Allow session cookies
  • Gather information you input into a contact forms, newsletter and other forms across all pages
  • Helps prevent Cross-Site Request Forgery (CSRF) attacks
  • Preserves the visitor's session state across page requests
  • Remember personalization settings
  • Remember selected settings
  • Keep track of your visited pages and interaction taken
  • Keep track about your location and region based on your IP number
  • Keep track on the time spent on each page
  • Increase the data quality of the statistics functions
  • Use information for tailored advertising with third parties
  • Allow you to connect to social sites
  • Identify device you are using
  • Gather personally identifiable information such as name and location


Save And Close