The banking market in the West African Economic and Monetary Union (WAEMU) is dominated by Moroccan banking groups such as Attijariwafa bank, Banque Centrale Populaire, and Bank of Africa (BOA). This with a cumulative share of 21.7% at the end of 2021, according to a report by the Banking Commission of the Central Bank of West African States (BCEAO).

Moroccan banks are supported by their 26 subsidiaries and are the most present in the WAEMU, with just over 20% of branches, 22.7% of ATMs, and 28.1% of the 17.4 million bank accounts. They contribute to the sector's overall net profit of around 26.6% of an estimated amount of nearly CFAF 800 billion (about $1.22 billion).

However, it should be noted that the top of the list is held by Ecobank ETII with its cluster holding 10.1% of the market share and the French Société Générale which is close behind with 9.8%. Similarly, in terms of efficiency, SoGé (5 subsidiaries) has the best performance in terms of net profit share (12.7%) against its rival Ecobank with 12.4%.

It should be recalled that with 30% of the sector's cumulative net profits, Moroccan banks remain very well anchored within the WAEMU and are not the groups created from the WAEMU (Ecobank and Coris Bank).