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The market value of Morocco’s Alaouite royal family’s stake in Attijariwafa Bank, the country’s largest financial services firm, has slipped below $8 billion after a recent drop in the bank’s share price on the Casablanca Bourse.
Moroccan royals see stake decline
The royal family holds an indirect 46.5 percent interest—around 100.1 million shares—through its investment vehicle, Société Nationale d’Investissement, also known as Al Mada. Over the past three weeks, the value of that stake has fallen by MAD6.01 billion ($653.5 million), marking a noticeable decline for one of the world’s most influential royal families.
This pullback comes after a period of gains earlier this year. Between April 11 and Sept. 12, Attijariwafa Bank’s shares climbed steadily, boosting the family’s stake by $1.63 billion to reach MAD77.81 billion ($8.64 billion). The recent decline has partially erased those earlier gains.
Attijariwafa shares lose 7 percent
Attijariwafa Bank ranks among Africa’s biggest banks by market capitalization. The group employs more than 20,000 people and operates in 25 countries, serving roughly 10 million customers—from small households to large businesses.
Since Sept. 23, the bank’s shares have dropped 7.11 percent, falling from MAD788 ($85.71) to MAD725 ($78.86). This decline has trimmed the bank’s market cap by $1.6 billion and reduced the value of major stakes, including that of the royal family. The family’s holding has fallen from MAD78.91 billion ($8.58 billion) on Sept. 23 to MAD72.60 billion ($7.90 billion).
Attijariwafa Bank shares up 19%
Despite this recent pullback, Attijariwafa Bank remains one of the Casablanca Bourse’s stronger performers in 2025. Its shares are still up 19.07 percent year to date, meaning a $100,000 investment at the start of the year would now be worth $119,070.
