Top executive behind Morocco’s $78 billion lender

Key Points

• Under Mohamed El-Kettani, Attijariwafa Bank expanded to 27 countries with assets reaching $78.44 billion in 2024, up 10.2% year-on-year.
• The bank has invested over $1 billion in sub-Saharan Africa, becoming a leading player in UEMOA and CEMAC regions.
• A third of Attijariwafa’s net income now comes from international retail banking, highlighting its growing impact beyond Morocco.

Mohamed El-Kettani has played a defining role in shaping Morocco’s modern banking sector. For nearly 20 years, he has led Attijariwafa Bank with a clear sense of purpose, turning it into a major financial force across Africa. With assets now exceeding $15 billion and operations in 27 countries, the bank has grown far beyond its Moroccan roots.

Since taking the helm as Chairman and CEO in 2007, El-Kettani has worked to strengthen the bank’s foundation while pushing for broader regional impact. Under his leadership, Attijariwafa has cemented its position as Morocco’s largest private bank and one of the top five banks on the continent.

More than just numbers, his focus has been on building meaningful partnerships across Francophone Africa and encouraging greater economic cooperation among countries in the Global South.

A career built from the ground up

El-Kettani’s rise in Morocco’s financial world reflects both deep expertise and strategic vision. After graduating from the highly regarded École Nationale Supérieure de Techniques Avancées (ENSTA Paris), he began his banking career in 1984 at Banque Commerciale du Maroc (BCM). His skill in project finance and corporate lending quickly put him on the radar for leadership roles.

He played a pivotal role in the 2004 merger of BCM with Wafabank—an event that led to the birth of Attijariwafa Bank. In the years that followed, El-Kettani led its investment and corporate arms, before stepping into the CEO role in 2007. Since then, the bank has expanded boldly, acquiring 15 banks between 2005 and 2016 and steadily growing its presence in West and Central Africa.

Investing in the continent

Under El-Kettani’s leadership, Attijariwafa Bank has poured over $1 billion into sub-Saharan Africa. These investments have helped the bank become a key player in both the West African Economic and Monetary Union (UEMOA) and the Central African Economic and Monetary Community (CEMAC).

By the close of 2024, the bank had reported strong financials, including MAD334.2 billion ($36.8 billion) in customer deposits and MAD309.2 billion ($33.39 billion) in loans. These numbers are not just impressive, they highlight the bank’s growing reach and the trust it has earned in diverse markets.

El-Kettani’s vision is also shaped by his advisory role to King Mohammed VI and his focus on regional cooperation and sustainable growth. He believes banking can do more than move money—it can drive development and connect economies across borders.

Beyond the balance sheet

El-Kettani is not just a banker, he’s also a bridge-builder. He helped create the Africa Development Forum, a platform that in 2019 drew more than 2,200 participants and has become a central meeting point for African business and policy leaders.

His work has earned widespread recognition. In 2019, the Ivorian government named him Commander of the National Order of Côte d’Ivoire for the bank’s contributions to the local economy. He is also an Officer of France’s Legion of Honour, a sign of his global impact.

Expanding access, empowering people

One of El-Kettani’s proudest achievements is the growth of Société Ivoirienne de Banque (SIB), Attijariwafa’s subsidiary in Côte d’Ivoire. In 2024, SIB reported MAD23.3 billion ($2.52 billion) in deposits and MAD18.4 billion ($1.99 billion) in loans—evidence of its role as a reliable financial partner for families and businesses.

Today, Attijariwafa Bank employs over 21,000 people and operates 7,417 branches across the continent, making it Africa’s most accessible bank. About a third of its net income now comes from international retail banking, showing how deeply it’s embedded in markets outside Morocco.

The bank’s total assets hit MAD726.5 billion ($78.44 billion) in 2024, up 10.2 percent from the previous year. While most of its assets are still based in Morocco, its growing footprint across North and sub-Saharan Africa reflects its regional ambitions. Nearly 57 percent of its assets are tied to customer loans and receivables, clear proof of its commitment to real-world economic activity.