Latest news with #SahamGroup
Ya Biladi
10 hours ago
- Business
- Ya Biladi
Société Générale Maroc becomes Saham Bank, reveals new ambitions
Six months after being acquired by the Saham Group, Société Générale Marocaine de Banques (SGMB) has officially rebranded as Saham Bank. The name change marks the end of the first phase of its transformation and the start of a new chapter, one that blends nearly a century of banking experience with a bold, forward-looking vision. Positioning itself as a next-generation bank, Saham Bank combines the legacy and discipline of an established institution with the entrepreneurial energy of its new shareholder. The shift comes with a renewed focus on customer experience, simplified services with real impact, a more agile leadership culture, and a stronger presence on the ground. Early signs are promising. The bank reported a 16.97% rise in net profit in Q1 2025, reaching 420 million dirhams, a clear signal that the strategy is already gaining traction. Stable Governance with a Renewed Vision Unveiled in Casablanca on June 18, Saham Bank is backed by stable leadership. Saham Group founder Moulay Hafid Elalamy now chairs the Supervisory Board, joined by Moulay M'Hamed Elalamy as vice president. Ahmed El Yacoubi continues as Chairman of the Management Board, with his existing team in place, ensuring operational continuity while aligning with Saham's long-term vision. Since the transition, the bank has begun redesigning its customer journey for clarity and efficiency, rolling out new offers built around real value, and evolving its internal culture to emphasize local engagement, teamwork, and initiative. Looking Ahead: A New Strategy for Moroccans Abroad? Saham Bank is also rolling out a new visual identity, modern and distinctive, yet still recognizable. The goal, says leadership, is to deliver «the best of both worlds»: honoring SGMB's legacy while building a more personal, accessible banking experience. When asked by Yabiladi about plans for Moroccans living abroad (MREs), El Yacoubi admitted this market has been overlooked. «We currently hold just 4% of the MRE market. With Saham, we've been asked to rethink that», he said. A new strategy is in the works to offer tailored, competitive solutions for Moroccans around the world.
Ya Biladi
17 hours ago
- Business
- Ya Biladi
Société Générale Maroc becomes Saham Bank, reveals new ambitions
Six months after being acquired by the Saham Group, Société Générale Marocaine de Banques (SGMB) has officially rebranded as Saham Bank. The name change marks the end of the first phase of its transformation and the start of a new chapter, one that blends nearly a century of banking experience with a bold, forward-looking vision. Positioning itself as a next-generation bank, Saham Bank combines the legacy and discipline of an established institution with the entrepreneurial energy of its new shareholder. The shift comes with a renewed focus on customer experience, simplified services with real impact, a more agile leadership culture, and a stronger presence on the ground. Early signs are promising. The bank reported a 16.97% rise in net profit in Q1 2025, reaching 420 million dirhams, a clear signal that the strategy is already gaining traction. Stable Governance with a Renewed Vision Unveiled in Casablanca on June 18, Saham Bank is backed by stable leadership. Saham Group founder Moulay Hafid Elalamy now chairs the Supervisory Board, joined by Moulay M'Hamed Elalamy as vice president. Ahmed El Yacoubi continues as Chairman of the Management Board, with his existing team in place, ensuring operational continuity while aligning with Saham's long-term vision. Since the transition, the bank has begun redesigning its customer journey for clarity and efficiency, rolling out new offers built around real value, and evolving its internal culture to emphasize local engagement, teamwork, and initiative. Saham Bank is also rolling out a new visual identity, modern and distinctive, yet still recognizable. The goal, says leadership, is to deliver «the best of both worlds»: honoring SGMB's legacy while building a more personal, accessible banking experience. When asked by Yabiladi about plans for Moroccans living abroad (MREs), El Yacoubi admitted this market has been overlooked. «We currently hold just 4% of the MRE market. With Saham, we've been asked to rethink that», he said. A new strategy is in the works to offer tailored, competitive solutions for Moroccans around the world.
Ya Biladi
a day ago
- Business
- Ya Biladi
IFC Chief Makhtar Diop meets Morocco's Head of Government, discuss stronger private sector
The Managing Director of the International Finance Corporation (IFC), Makhtar Diop, met on Tuesday with Morocco's Head of Government, Aziz Akhannouch, during a four-day visit to reaffirm IFC's commitment to supporting the country. The visit, running from June 17 to 20, aims to consolidate a long-standing partnership and clarify priorities to stimulate economic growth through a stronger role for the private sector. During their meeting, Diop and Akhannouch discussed «working to build a more dynamic, inclusive, and resilient private sector, rich in opportunities for Moroccans». Très heureux de m'être entretenu avec M. Aziz Akhannouch, Chef du gouvernement du #Maroc, pour réaffirmer l'engagement d' @IFC_fr à intensifier son appui au pays. Ensemble, nous œuvrons à bâtir un secteur privé plus dynamique, inclusif et résilient, riche en opportunités pour les… — Makhtar Diop (@Diop_IFC) June 17, 2025 On the same day, Diop also held talks with Saham Group chairman Moulay Hafid Elalamy. «Many avenues for collaboration were identified, with a strong desire to strengthen our partnership, particularly in the financial sector, both in Morocco and across the continent», he wrote on X. Diop, accompanied by Ethiopis Tafara, IFC's Vice President for Africa, will also meet other key officials, including Finance Minister Nadia Fettah and Bank Al-Maghrib Governor Abdellatif Jouahri. The discussions will emphasize investment in high-potential sectors such as sustainable agriculture, manufacturing, infrastructure, services, and cultural industries, as well as advancing regional integration to reinforce Morocco's role as a hub for connectivity and innovation in Africa, according to a press release. He is also expected to sign an agreement to accelerate Morocco's digital transformation, a crucial driver for boosting economic opportunities and inclusive growth.
Ya Biladi
28-03-2025
- Business
- Ya Biladi
Société Générale Morocco : 2024 marked by shareholder change and mixed results
The Supervisory Board of Société Générale Maroc, chaired by Moulay Hafid Elalamy, met on March 25 to finalize the accounts for the 2024 fiscal year. This year marks a strategic turning point: the bank's acquisition by the Saham Group, bringing an end to Société Générale's presence in Morocco. The transition to Saham ownership was executed smoothly, ensuring service quality remained unaffected. A well-managed separation from the French group allowed for a seamless shift in operations. This acquisition opens a new chapter for the institution, which now seeks to strengthen its autonomy and tailor its business model to the Moroccan market. Despite this structural shift, business activity remained strong. Deposits grew by 8.94%, reaching 80.1 billion dirhams, while outstanding loans totaled 93.9 billion dirhams. Net Banking Income (NBI) increased by 4.17% to 5.8 billion dirhams. However, financial performance was impacted by two exceptional charges: a provision related to the empowerment program and a tax audit, amounting to 800 million dirhams. Without these costs, consolidated net income would have stood at 1.4 billion dirhams. After accounting for them, it declined to 795 million dirhams, reflecting a 41.61% drop. Despite the decline in profits, the bank maintains some of the strongest prudential ratios in the market, with a solvency ratio of 14.61% and a Core Tier 1 ratio of 13.86%. With a solid financial foundation and a strategy focused on efficiency and growth, the bank looks to the future with confidence under its new shareholder.
