Attijariwafa Bank stock gets a higher 2026 target

Published on 09/30/2026 at 09:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Attijariwafa Bank stock carries a MAD 932.00 target after BMCE Capital raised its valuation on September 24, 2026. First-half net banking income rose 4.00 percent.

ATW, MA0000012445, Illustration mit AI erstellt.

Attijariwafa Bank (ISIN MA0000012445) received a higher valuation target of MAD 932.00 after BMCE Capital Global Research lifted its previous target from MAD 910.00 on September 24, 2026. The new target is tied to stronger credit growth, improving risk indicators and expansion in international banking.

Credit growth leads the upgrade

According to La Nouvelle Tribune on September 25, 2026, Attijariwafa Bank increased first-half equipment loans by 36.00 percent to MAD 142.0 billion. Corporate financing rose 14.00 percent to MAD 227.0 billion, while consolidated loans reached MAD 464.3 billion at the end of June, up 11.20 percent year over year.

BMCE Capital expects net loans to reach MAD 481.5 billion in 2026, representing 7.50 percent growth, and MAD 515.2 billion in 2027, representing a further 7.00 percent increase. That forecast makes corporate lending and infrastructure-linked investment central to the bank's earnings case.

Income rises while costs weigh

Consolidated net banking income reached MAD 18.4 billion in the first half of 2026, up 4.00 percent. Interest income increased 8.20 percent to MAD 11.2 billion, while commission income rose 3.60 percent to MAD 3.6 billion, according to InfoMaroc on September 25, 2026.

First-half group net income stood at MAD 5.94 billion, up 1.10 percent, but operating expenses climbed 8.40 percent to MAD 6.8 billion. The cost-income ratio consequently increased to 36.80 percent from 35.30 percent in the comparable period.

Stock range sets the valuation frame

The bank's market capitalization was MAD 138.4 billion on September 21, 2026. Its Casablanca Stock Exchange shares stood within a 52-week range of MAD 663.10 to MAD 804.00 on September 25, 2026, providing the market context for the MAD 932.00 research target.

Attijariwafa Bank stock valuation

Attijariwafa Bank is listed on the Casablanca Stock Exchange under ticker ATW. The combination of 4.00 percent first-half income growth, 36.00 percent equipment-loan growth and the raised MAD 932.00 target leaves credit expansion as the clearest quantified driver in the latest research view.