Company: CFG Bank Class A
Country: Morocco
Sector: Regional Banks
CEO: Not publicly listed
Website: Not publicly listed
Careers Page: Not publicly listed
LinkedIn: Not publicly listed
Email: Not publicly listed
Headquarters: Casablanca, Morocco
Founded: 1992
Valuation/Revenue: $818m market value (African Business Top 250, 2025)
CFG Bank is a Moroccan universal bank headquartered in Casablanca that began life as the country’s first independent investment bank before converting into a full retail and commercial banking license in 2015. It trades on the Casablanca Stock Exchange following an October 2023 initial public offering.
What Does CFG Bank Do?
CFG Bank started in 1992 as Morocco’s first stand-alone investment bank, built around market activities, corporate finance and asset management. In 2015 the group obtained a universal banking license from Bank Al-Maghrib, allowing it to add retail deposits, consumer credit, real estate lending and digital banking to its investment-banking roots. It has positioned itself as a “digital-first” challenger bank, partnering since 2016 with the Swiss core-banking software provider Temenos to build a cloud-based banking platform aimed at both individual and institutional customers.
Is CFG Bank Publicly Traded?
Yes. CFG Bank listed on the Casablanca Stock Exchange in October 2023, raising roughly 600 million Moroccan dirhams (about €55 million) through a capital increase. Reporting at the time described the offering as approximately 35 times oversubscribed, reflecting strong demand from Moroccan retail and institutional investors for exposure to a fast-growing, digitally-oriented bank. The listing gave CFG Bank a public market valuation and made it one of the newer entrants on the Moroccan bourse’s banking segment.
Who Founded CFG Bank?
The bank was co-founded in 1992 by Adil Douiri and Amyn Alami, who built it into Morocco’s leading independent investment bank before the 2015 pivot to universal banking. Early institutional backing reportedly came from established figures in Moroccan banking, including Abdelaziz El Alami of BCM and Othman Benjelloun of BMCE Bank, underscoring the bank’s ties to Morocco’s established financial establishment even as an independent entrant. Current executive leadership could not be independently confirmed at the time of writing.
How Big Is CFG Bank?
CFG Bank carried a market value of approximately $818 million as of African Business magazine’s Top 250 African companies ranking for 2025, placing it in the mid-tier of Africa’s publicly listed regional banks. That scale reflects a decade of expansion from a narrow investment-banking franchise into full-service retail and corporate banking, though it remains considerably smaller than Morocco’s largest banking groups such as Attijariwafa Bank and Banque Populaire.
Where Is CFG Bank Headquartered?
CFG Bank is headquartered in Casablanca, Morocco’s financial capital, where it maintains its head office and a network of branches, including a flagship “Palmier” agency location. Casablanca hosts the country’s principal stock exchange and the majority of Morocco’s major banking groups, making it the natural base for CFG Bank’s operations across the kingdom.
How Does CFG Bank Compare to Its Competitors?
CFG Bank competes with Morocco’s dominant banking groups — Attijariwafa Bank, Banque Populaire du Maroc, and BMCE Bank of Africa (Bank of Africa) — all of which are far larger, older and more geographically diversified across Africa. CFG Bank’s differentiation has been its investment-banking heritage and its digital-first retail proposition, positioning it as a nimbler, technology-forward challenger rather than a direct scale competitor to the “big three.” Its relatively recent conversion to universal banking (2015) and subsequent 2023 IPO also distinguish its growth trajectory from longer-established rivals.
Links
Website: Not publicly listed
Careers Page: Not found
LinkedIn: Not found
Email: Not publicly listed
FAQ
Is CFG Bank legit?
Yes. It is a Bank Al-Maghrib-licensed universal bank listed on the Casablanca Stock Exchange since October 2023.
Who owns CFG Bank?
It was co-founded by Adil Douiri and Amyn Alami; since its 2023 IPO it has been partly publicly held via the Casablanca Stock Exchange, alongside its founding shareholders.
When was CFG Bank founded?
1992, originally as Morocco’s first independent investment bank.
Is CFG Bank publicly traded?
Yes, on the Casablanca Stock Exchange since its October 2023 listing.
How much is CFG Bank worth?
Approximately $818 million in market value per African Business’s 2025 Top 250 ranking.
Where is CFG Bank based?
Casablanca, Morocco.