Performances
Titre degradé
performances
WHAT UNDERPINS OUR COMMITMENT
BANK OF AFRICA’s ongoing commitment has been recognised with a number of:
AWARDS AND DISTINCTIONS IN 2021
1st bank in Africa to be ISO 45001-certified in the areas of occupational health, safety, and well-being 1st bank in Africa to be ISO 14001-certified in 2011 with certification renewed in 2021
BANK OF AFRICA named ‘Top Performer CSR 2021’ for the 8th consecutive year Ranked 1st out of 90 banks in emerging markets, 2nd out of 852 emerging market companies (across all sectors) and 37th out of 4,963 companies rated worldwide
BANK OF AFR ICA an award-winner in 2021 in the MENA region’s Financial Services category for the 8th consecutive year at the Arabia CSR Awards in Dubai
BANK OF AFRICA ranked among the top 14 major African banks for its commitment to human rights https://www.banktrack.org/bank/bmce_bank#policies
BANK OF AFRICA A PRIZE-WINNER FOR THE BEST ANNUAL SUSTAINABILITY REPORT :
In 2021, BANK OF AFRICA Group was awarded the prize for the best Annual Sustainability Report in the financial sector with a score of 96%, far exceeding the 20% minimum required to qualify for the competition, from the Casablanca Stock Exchange in the presence of the President of Mohammed VI Polytechnic University and the Casablanca Stock Exchange’s Chief Executive Officer.
SMAC ISO 37001 certification of BANK OF AFRICA's anti-bribery management system successfully renewed. The Bank's energy management system awarded dual certification -NM- 50001 and ISO 50001:2018 - by IMANOR and Bureau Veritas.
named "Best SME bank in Morocco" and "Best Bank on the African Continent" in October 2022 by the prestigious Global Finance Magazine, in recognition of its commitment to entrepreneurship, its expertise in this market segment, its range of products and servies and its ongoing innovation.
BANK OF AFRICA named "Best Regional Bank in North Africa" at the 2023 African Banker Awards.
Mr Othman BENJELLOUN named 'African Personality of the Year and BANK OF AFRICA 'Best African Bank 2022' at the Africa Investments Forum & Awards (AIFA) in recognition of its commitment to the continent's development and its stature as one of Africa's key business and financial institutions. BANK OF AFRICA named 'Best Bank in Africa' by Global Finance Magazine.
Named 'Most Active Issuing Bank in orocco' in May 2022 by the European Bank for Reconstruction and Development (EBRD) inrecognition of the productive partnership forged between the two institutions in overseas trade finance.
BANK OF AFRICA an award-winner in the MENA region's Financial Services category for the 9th consecutive year at the 15th Arabia CSR Awards, for ils leadership in corporate social responibility and sustainability.
BANK OF AFRICA ranked among the top 30 of the MENA region's most important banks in Forbes Middle East's 2922 ranking.
BANK OF AFRICA ranked among the top 500 banks in the world, based on a report by Brand Finance, a UK-based brand valuation and strategy consultancy, published in The Banker magazine.
Bank OF AFRICA ranked among the top 20 of africa's most powerful banks at end-2021, in the most recent annjal rankig of africa's 100 best banks by African Business magazine.
BOA Ghana named 'Trad Finance Bank of the Year 2022' by two leading organisations, Innovation and Excellence Awards ans Ghana Credit Excellence Awards 2022.
Receives the award for Best Annual Sustainability Report within the financial services industry for the 2nd consecutive year from the Casabanca Stock Exchange, with a score of 97%.
Eurafric Information named 'Top Employer' for the 4th consecutive year and receives the European Identity and Cloud (EIC) 2022 award in the Identity Fabrics & IDaaS category from KuppingerCole Analysts AG, a consulting firm.
AN ONGOING COMMITMENT TO IMPACT FINANCE
BANK OF AFRICA, a longstanding exponent of sustainable finance and impact finance, is more than ever focused on tackling the major challenges related to climate change. Its commitment to sustainable finance is reflected in its decision to gain accreditation to the Green Climate Fund, a financial mechanism which helps developing countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change.
To meet the requirements of a decarbonised economy, BANK OF AFRICA is determined to help companies make the necessary ecological shift if they are to be competitive, providing them, via the Bank’s Business Centre network, with advice and support as well as bespoke funding solutions.
In 2022, BANK OF AFRICA introduced two new innovative and competitive financing solutions – Cap Industrie Verte, aimed at providing solid support to small businesses and help them make a success of their energy transition and Cap Energie, a turnkey solution developed by BANK OF AFRICA to help businesses better manage their resources – energy saving, water saving, waste management, etc.
Today, BANK OF AFRICA’s green and sustainable investments, which currently amount to almost MAD 4 billion, are intended to promote energy transition, particularly renewable energy, energy efficiency, waste management and recovery, sanitation and wastewater treatment projects as well as female entrepreneurship and African SMEs.
Through its various partnerships and initiatives in sustainable finance, BANK OF AFRICA has been able to develop genuine expertise in this area and design and market a series of financing solutions with strong environmental, social and climate impact.
PARTNER OF CHOICE FOR INTERNATIONAL DEVELOPMENT FINANCE INSTITUTIONS
En 2022, un accord de coopération a été signé entre BANK OF AFRICA et son partenaire majeur depuis plus de 10 ans, la Banque Européenne pour la Reconstruction et le Développement -BERD-, pour l’élaboration d’un cadre de finance durable en faveur d’émissions obligataires vertes, sociales et durables. BANK OF AFRICA a également obtenu un financement de 13 millions EUR de la BERD, avec le soutien du Fonds Vert pour le Climat -FVCet de l’Union Européenne -UE- pour promouvoir la transition verte des entreprises marocaines et soutenir les PMEs, afin de leur permettre d’investir dans des technologies propres « Clean Tech ». La Banque, ainsi que sa filiale de crédit-bail, Maghrebail, continueront de proposer des crédits avec un accompagnement en termes de préparation, mise en œuvre et suivi des projets, outre des sessions de renforcement des capacités et de sensibilisation en matière de technologies d’atténuation et d’adaptation face aux changements climatiques.
INCREASED FUNDING FOR ENVIRONMENTAL AND SOCIAL PROJECTS
An impact-based review of the loan portfolio at end-2022 reveals that loans to businesses in Morocco, excluding loans to public authorities, financial operations and inter-Group loans, amounted to MAD 56.5 billion, accounting for 44.5% of total outstanding loans to Moroccan customers and 28.9% of total Group outstanding loans.
On the same basis, loans having a significant positive impact amounted to MAD 17.7 billion i.e. 31.3% of total corporate customer loans in Morocco, compared to 32.6% in 2021.
This modest contraction (-1.3%) was entirely due to the authorised period for marketing Oxygène and Relance loans, which fell by 20% year-on-year, coming to an end. By contrast, loans having a significant positive environmental and/ or social impact rose by 40%, underlining BANK OF AFRICA's growing commitment to financing climate solutions, adaptation and support for communities.
Breakdown of positive impact loans to Moroccan corporate customers:
‘POSITIVE IMPACT’ SCOPE EXTENDED TO RETAIL BANKING CUSTOMERS, PROFESIONAL BANKING CUSTOMERS AND MOROCCANS AROUND THE WORLD IN 2023
Any proper assessment of banking’s contribution to sustainability and its ongoing improvement must take into account loans to retail banking customers, professional banking customers and Moroccans Around the World, all of whom are market segments which have a significant community impact. Inclusion of these categories is consistent with the best practices recommended under the United Nations’ (UNEPFI) Positive Impact approach. Going forward, our goal is to analyse every type of impact from our business activity, beginning with our domestic business.
The Group’s goal is that positive impact loans account for the majority of its overall loan portfolio by 2030. That will involve, therefore, a more in-depth ESG-based assessment of the portfolio and the need to implement specific solutions. As a result, the first such initiatives will be launched in 2023.
The goals for 2022 have included support for small businesses, climate change solutions, financial inclusion, employment and social projects. In 2023, however, the focus will shift to helping business reach their decarbonisation goals while remaining competitive. In addition, more generally, increased awareness about ESG issues will enable Moroccan exporters proactively adapt to new regulations linked to their carbon footprint.
MANAGING ENVIRONMENTAL AND SOCIAL RISKS SUSTAINABLY AND RESPONSIBLY
Incorporating E&S risk management within its overall risk management system has enabled the Bank to take environmental and social (E&S) aspects increasingly into consideration in its day-to-day operations.
Sound control of these aspects is vitally important in responding not only to regulatory requirements as far as climate and environmental risk is concerned but also to the needs of stakeholders.
In 2022, the Bank continued to report indicators for monitoring and steering the E&S risk management system to the Environmental and Social Sustainability Committee. A total of 127 loan applications were assigned an E&S rating in 2022; of these, 81 commitments were assigned to Category B, 35 to Category C and 11 to Category A.
EQUATOR PRINCIPLES
Since May 2010, BANK OF AFRICA has been the only Moroccan bank to endorse the Equator Principles (EP). These principles, based on IFC's performance standards, are the financial industry standard for environmental and social risk management in financing projects.
In 2022, 28 projects for which credit had been approved and/or disbursed were eligible under the Equator principles, 8 of which had reached financial close. All 10 Equator Principles were applied to the identified and analysed projects, which cover all categories (A, B and C).
An analysis of loan applications reveals that Category B dominates with 18 applications for which credit has been approved and/or disbursed and 5 applications which have reached financial close i.e. 64% and 63% respectively.
The following graphs show the breakdown by category of all applications for which credit has been approved and/or disbursed with a spotlight on those loans which have reached financial close.
