Thomson Financial Bankwatch gives high rating to Morocco's Commercial Bank

Thomson Financial Bankwatch, the world's largest bank rating agency, granted a high-grade rating to "Banque Commerciale du Maroc" (BCM) for its good performance in 1998 and for its rising capitalization and enhanced profitability.

The BCM-Bank, which is the second largest bank in Morocco, was the best capitalized bank in the country in 1998 and the most profitable, said a release issued Friday in the USA by the Thomson financial Bankwatch.

BCM is owned by a group of domestic and international strategic shareholders, which provide both operational and capital support, the same source added, noting that the bank's management is among the most sophisticated in the North African country.

The bank's profitability has been satisfactory and stable since 1997 and the quality of its loan portfolio and loan loss reserve coverage are also deemed to be satisfactory.

Banque Commerciale du Maroc's credit policies and procedures are judged to be excellent by Moroccan standards and the lending process is meticulous. Liquidity is regarded adequate, and funding, which comes mainly in the form of customers' deposits, is stable and diversified.

Thomson Financial Bankwatch agency provides ratings and research on over 1,000 financial institutions in more than 95 countries.