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Morocco

Best bank
Banque Commerciale du Maroc Banque Commerciale du Maroc (BCM) has consolidated its position as the best bank in Morocco this year through its acquisition of Wafabank, a leading competitor. Once the deal is completed in October 2004 it will be the largest bank in Morocco and the fourth largest in Africa.

BCM?s non-performing loans and finances have deteriorated over the past year, mainly as a result of increased recognition, but its position as Morocco?s leading corporate and investment bank remains intact. Moreover, BCM still boasts the best capital and cost ratios of any bank in the country. Rivals such as BMCE bank are stronger in the insurance and retail sector, but BCM?s acquisition of Wafabank should boost its retail market share.

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