| Company type | Commercial bank |
|---|---|
| Industry | Banking |
| Founded | 1962 |
| Founder | Arab Bank |
Key people | Hicham Achki (current director) |
| 47 million MAD (2005) | |
| Owner | Arab Bank (100%) (2015) |
Number of employees | 161 (2015) |
| Parent | Arab Bank |
| Website | www.arabbank.ma |
Arab Bank Morocco (Arabic: البنك العربي للمغرب) is a commercial bank based in Morocco.
Although it is open to the general public, it operates only 5 branches within the country and primarily serves corporate clients.
A subsidiary of the Jordanian Arab Bank group, its headquarters is located in Casablanca.
History
editFounded in 1961, Arab Bank Plc opened a branch in Rabat before establishing its headquarters in Casablanca.
In 1973, during the "Moroccanization" process, the capital stock of the bank was equally held by Banque Populaire du Maroc and the Arab Bank group.[1]
In 2000, the parent company Arab Bank bought out the shares held by Banque Populaire du Maroc and initiated a restructuring plan.[2] As part of this, the capital was increased to 200 million MAD.[1]
In 2005, a restructuring policy was adopted by its management. This policy included a negotiated social plan that resulted in profits amounting to 47 million MAD, enabling the bank to offset its losses.[2]
In December 2010, the bank was acquired by the investment fund Asma Invest, owned equally by Morocco and Saudi Arabia.[3]
References
editExternal links
edit| Universal banks | |
|---|---|
| Investment banks | |
| Postal operator | |
| Minor banks | |
| Central bank | |
| Mint | |
