Fitch Ratings has reaffirmed Bank of Africa’s (BOA) long-term issuer default ratings in both foreign and local currencies at ‘BB’, with a stable outlook. The decision, announced on December 17, 2025, underscores the resilience of the Moroccan banking group, the country’s third-largest financial institution, while also highlighting structural vulnerabilities that warrant monitoring in a volatile regional context.
The confirmation reflects BOA’s solid operational performance, robust capital position, and continued market presence across Africa. Fitch noted that while the bank maintains stable profitability and risk management practices, external factors, including regional economic volatility and exposure to certain market segments, remain key considerations for the agency.
Analysts expect that BOA’s strategic initiatives in digital banking, regional expansion, and diversified lending could support future creditworthiness, helping maintain its stable rating over the medium term.
