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itch: Pan-African Moroccan, South African Banks Benefit from Regional Operations
Fitch Ratings-London-31 May 2024: The African subsidiaries of large pan-African banking groups based in Morocco and South Africa will continue to have good profitability in 2024 and 2025, supported by still-high interest rates, stabilising currencies and steady balance-sheet growth, Fitch Ratings says. This will help to offset some ongoing underperformance in the groups’ domestic markets. Morocco-based Bank of Africa (BOA; BB/Stable), Attijariwafa Bank (AWB; BB/Stable) and Groupe Banque Centrale Populaire (GBCP; unrated), and South Africa-based…
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