Attijariwafa’s acquisition of Societe Generale likely to be ratings neutral; Ghana’s banking environment healthy – Fitch

0% of AWB’s total assets and 11% of its total equity, at end-2025, and its small size compared to AWB means the acquisition is unlikely to materially increase AWB’s exposure to the rest of Africa or pressure its capital ratios.“We expect continued growth in Morocco to support the relative weighting of domestic operations; Moroccan assets grew by about 4% in half-year 2026, broadly in line with growth in the rest of Africa”, Fitch Ratings added.

It said AWB’s exposure to Ghanaian cedi volatility and any resulting impact on its regulatory capital ratios should be very limited, given the subsidiary’s small size.