Arab Moroccan bank seeks to double its capital

The Arab Moroccan Bank is planning to double its private capital to 200 million derhams. Sources in the Moroccan embassy in Cairo said the increase of the capital aims at increasing the number of branches to 13 from its current 8 branches, in order to cover all main cities in Morocco.

The Arab Moroccan Bank is completely owned by the Oman - Arab Bank, which restored the shares it sold in the 70th (seventeenth) for Moroccan banks as its rate amounted to 50% of the of the capital at that time.