Latest news with #SociétéGénéraleMaroc
Morocco World
15 hours ago
- Business
- Morocco World
Société Générale Rebranding: Saham Bank Unveils Its Strategy
Casablanca – On Wednesday, the Moroccan banking landscape witnessed the rebranding of Société Générale Maroc into Saham Bank. The rebranding of the company took place in a ceremony held in Casablanca at the headquarters of Société Générale Marocaine de Banques (SGMB). With the tagline 'a bank by entrepreneurs, for entrepreneurs,' the rebranding marks more than a name change. The announcement also covers a strategic shift toward innovation, digital transformation, and client-centric banking in Morocco. Ahmed El Yacoubi will lead the Board of Directors of the bank. The event presented Saham Bank's bold new direction to journalists, stakeholders, and industry leaders. The transformation follows SGMB's shift in ownership by Saham Group, finalized last December, and represents six months of groundwork in repositioning the bank's identity and services. 'There's a time for talk, and a time for work,' El Yacoubi said. Francois Marchal Co-CEO in charge of the Corporate and Investment activities and Member of the Executive Board at Saham Bank told Morocco World News (MWN) that the company 'kept the DNA of resilience, reliability, and professionalism that defined SGMB, but we've injected it with energy, speed, and a new spirit.' That new spirit is being put into action through three pillars: digital transformation, a renewed client experience, and international-standard operational excellence. Saham Bank also reported a 16.97% increase in net profit, reaching MAD 420 million in the first quarter of 2025, signaling early financial momentum behind its transformation. On the topic of crypto, Marchal shared a cautious but progressive stance: 'Crypto is clearly a topic. The technology is ready. However, as a regulated entity, we must align with Moroccan laws and regulations. There's some hype around crypto, probably a bit of a bubble…we need to see when everything settles down what is the real usage and figure out what we can offer to our clients.' Digital Transformation at the Core With a MAD 400 million investment in IT, Saham Bank is positioning itself as a digital-first institution. The new mobile app, developed in just three months, is only the beginning. Cybersecurity has been prioritized to meet the highest industry standards as the bank maintains full control over its digital assets to sustain digital data security. AI is also being rolled out across banking operations to enhance personalization, better risk analysis, and faster service delivery. 'We all need AI in this age, we need to make sure we don't fall behind,' Asmae Hajjami, one of the bank's executive board members, said during the event, noting that 'Vertical and transversal transformation is necessary to meet our clients' expectations.' A Bank Built for Entrepreneurs One of Saham Bank's most defining commitments is its focus on entrepreneurs. The new service model is designed to offer Moroccan entrepreneurs and their institutions tools that reflect both local understanding and international standards. El Yacoubi echoed Hajjami's remarks, noting that the bank seeks to 'become the fastest and most trustworthy players in the Moroccan market when it comes to international operations.' With simplified digital processes through the 'MyBusiness' platform, new business clients can be integrated and build relationships with Saham Bank in just 30 minutes. The bank has also launched packs tailored to different client profiles, including entrepreneurs, institutions, or individuals – those who prefer autonomy, and those who need full support. To match this ambition, Saham Bank has reimagined its customer experience with an omnichannel approach: multimedia customer service centers, transformed physical agencies, and grown service providers at the agency, ATMs offering autonomous services, and extended banking hours (7 days a week, 365 days a year, 8 a.m. to 9 p.m.) Strategic Fundamentals and Governance Backed by one of the strongest capital bases in Morocco, Saham Bank is maintaining its reputation for loan and credit quality while enhancing speed. Loan processing times have been reduced without compromising risk analysis rigor. 'We aim for excellence, not perfection,' said El Yacoubi, referencing Morocco's national football team's legendary World Cup run as an inspiration for Saham's own long game. The transformation is also guided by stable, expert, and visionary governance. The bank's Supervisory Council is chaired by Moulay Hafid Elalamy, with operational leadership from the executive board. 'Creating value is why we wake up every morning and do our job as it should be done,' El Yacoubi concluded. Finance Should Serve People Saham Bank's reason for existing is now defined as catalyzing ambitions and building sustainable relationships. As part of its mission, the bank promises to place finance at the service of human development, green sustainability, entrepreneurship, and positive generational impact. In the words of executive Jerome Brun: 'If there's a shadow to a problem, then the problem exists, and so does its solution.' With bold vision, digital power, and a people-first philosophy, Saham Bank sets out not just to lead, but to redefine what a Moroccan bank can be in today's day and age. Tags: economyMorocco bankMorocco economySaham moroccosociete general
Morocco World
23-04-2025
- Business
- Morocco World
Société Générale Maroc Transforms Banking Infrastructure with IBM, PowerM
Doha – Société Générale Marocaine de Banques has launched a major digital transformation initiative in partnership with IBM and Power Maroc (PowerM). The bank is transitioning from monolithic applications to a microservices-based architecture to enhance operational efficiency, strengthen security measures, and deliver superior digital banking services. As Morocco's digital landscape evolves, customer expectations for seamless and swift banking experiences have risen significantly. Recognizing this shift, Société Générale Maroc determined that modernizing its IT infrastructure was essential to support open banking initiatives and foster innovation. While reliable, the bank's existing systems had limitations in scalability and integration with external services, which hindered rapid deployment of new digital offerings. 'To build a sustainable system, it is essential to strengthen the foundations of infrastructure and platforms, avoiding reliance on fragile structures,' said Adil El Kourri, CIO and COO of the Technology Division at Société Générale Maroc, in a recent statement. 'IBM Cloud Pak, with its resilience and modularity, serves as a cornerstone of this transformation, providing enhanced security, optimized performance, and opportunities for innovation, particularly in artificial intelligence,' he added. The transformation process began with a comprehensive analysis of the bank's applications conducted by PowerM and IBM Expert Labs. Initial efforts focused on resolving performance issues and improving security measures. The team implemented upgrades to IBM Guardium and IBM MQ to protect sensitive customer data and ensure high-availability messaging between applications, even during peak periods. Additionally, IBM Instana was deployed to improve infrastructure observability, allowing the IT team to proactively resolve issues. Building on these improvements, Société Générale Maroc is now deploying IBM Cloud Pak for Integration and IBM Cloud Pak for Applications. The bank is also adopting PowerM's containerization platform, rKube, built on IBM Red Hat OpenShift. This integration aims to streamline services, accelerate development, and position the bank at the forefront of Morocco's financial sector. Walid Largou, CTO at Power Maroc, noted, 'At Power Maroc, we view technological solutions within the broader business context. Our collaboration with Société Générale Maroc and IBM is not just about addressing technical challenges but unlocking new business opportunities that drive growth and enhance customer satisfaction.' The transformation aligns with global banking trends that emphasize digitization to reshape operations and drive innovation. According to IBM's 2025 Global Outlook for Banking and Financial Markets, embracing end-to-end digitization is critical for banks to elevate their performance in today's digital-first economies and keep pace with client demands and AI-led innovations. 'We are excited to support Société Générale Maroc in its journey towards a modernized, agile banking infrastructure,' said Mimoun Ouchaou, General Manager and Technology Leader at IBM Morocco. 'By leveraging IBM's advanced technologies and the expertise of Power Maroc, Société Générale Maroc is well-positioned to meet evolving customer expectations and drive innovation in the Moroccan financial sector,' he continued. Through these ongoing modernization efforts, Société Générale Maroc aims to deliver enhanced digital services, foster greater customer engagement, and solidify its position as a leader in Morocco's banking industry. Read also: Saham Group Finalizes Acquisition of Société Générale's Moroccan Subsidiaries Tags: IBMPowerMSociété Générale
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.
