Saham Bank – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Saham Bank (Saham, SB or the Bank) at ‘BB+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Saham’s Bank Standalone Rating (BSR) of ‘bb’, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of Moderate. The Outlook on the LT FCR and BSR is Stable.

Saham Bank – previously known as Societe Generale Marocaine de Banques (SGMA); name change June 2025 – is Morocco’s fifth-largest bank by assets. In Q2 24, France’s Societe Generale Group (SG) agreed to sell its entire shareholding (57.7%) in SGMA, including its subsidiaries, to the Moroccan-based Saham Group. The deal was completed in Q4 24 following final regulatory approval. The Saham Group was established in 1995 by Moulay Hafid Elalamy – a prominent Moroccan businessman and…