Chairman’s Message
Titre degradé
Chairman
Othman BENJELLOUN
Consistent with its vocation as an international group with a pan-African dimension, BANK OF AFRICA continues to generate value for shareholders and stakeholders alike. Its solid performance in 2023 reflects an ongoing determination to actively participate in building a dynamic, resilient and inclusive African economy.
In 2023, consolidated net banking income rose by +9% to MAD 16.9 billion while net income attributable to shareholders reached MAD 2.8 billion versus MAD 2.3 billion in 2022. This performance was primarily due to the combined efforts of the parent company and its sub-Saharan African subsidiaries. Parent net income increased by +3% to almost MAD 1.6 billion after factoring in the exceptional impact from the contribution to the Earthquake Relief Fund.
2023 was marked by the terrible earthquake which struck Morocco’s Al Haouz region 8 September 2023. BANK OF AFRICA Group participated fully in the powerful groundswell of national solidarity by mobilising its entire staff in support of the victims of disaster areas as part of relief measures issued by His Majesty. The Bank contributed to the Earthquake Relief Fund as well as overseeing the collection of donations via its branch network and digital channels.
In addition, in 2023, BANK OF AFRICA Group continued to implement its 2030 corporate strategic plan, inspired by its core values and commitments which promote sustainability and positive impact finance.
The Group’s commitment to social action is enshrined in a Corporate Social Responsibility Charter, adopted in 2019.
An updated version of the Charter was published in 2023 containing 5 undertakings and 23 goals. This Charter, in line with the Group’s ‘Vision 2030’ corporate strategy, inextricably links the Bank’s success to the satisfaction of its shareholders and stakeholders in Morocco and Africa.
BANK OF AFRICA-BMCE Group's sustainability-based approach, as outlined in this Report, aims to create a financial ecosystem in which customer centricity, innovation and impact finance converge, forming the basis of its contribution to the economic development of the African continent.
The Group thereby ensures the sustainability, security and ongoing improvement of its results and brand image while ensuring that environmental, ethical, human, social and societal factors are actively and seamlessly integrated into its strategy and activities.