Saham Bank receives its first Moody's rating: Ba1, stable outlook

Saham Bank has announced that Moody's Ratings has assigned it a long-term Ba1 rating for the first time, with a stable outlook. This decision reflects Moody's assessment of the bank's strong financial profile, supported by robust profitability, high capitalization, and sound governance. According to Moody's analysis, the rating is based on several key factors: - Structurally strong profitability, driven by a well-established franchise among multinational corporations and a premium retail clientele. - Strong capitalization, providing shock absorption capacity and a foundation for sustainable development. - Solid governance standards, bolstered by the new shareholder's commitment to maintaining high corporate governance requirements. - A cautious and conservative approach to classification and risk management, contributing to the resilience of the credit profile. Moody's also emphasizes Saham Bank's importance in the Moroccan financial system, with a significant position in several key areas, including domestic and international payments, market making in foreign exchange and fixed income, interbank lending, and other sectors where the bank operates, thus contributing to the Kingdom's financial ecosystem. This rating aligns with the dynamics of the empowerment project, which aims for total operational independence from the Société Générale group while maintaining a commercial partnership. The new shareholder's commitment to upholding high governance standards is an additional strength. "This first rating from Moody's is a structural milestone for Saham Bank. It recognizes the strength of our fundamentals—profitability, capitalization, and governance—as well as the utility of our role in the national financial sphere. It is also part of a transformation dynamic: our empowerment enhances our execution capacity, agility, and ambition for responsible growth, serving our clients and the Moroccan economy. This is also the second rating obtained this year from a renowned international agency, confirming the dual external recognition of our bank's profile under the ownership of the Saham Group," stated Ahmed El Yacoubi, Chairman of the Management Board of Saham Bank.