Best Banks in Morocco

The following are some of the top leading banks in Morocco:

BMCE Bank - In 2009 BMCE Bank was awarded “Best Bank in Morocco” by EMEA Finance and “Best Brand in terms of Services” by OMPIC. Moreover, the Bank came in 2nd place in the sector in terms of card issuance with a market share of 17.4%. In 2009 BMCE Bank expanded its network to 541 branches
and more than 600 ATMs with the installation of 70 new units.

Attijariwafa Bank - It has been awarded the “Best Bank in Morocco 2006 Award” by Global Finance. Attijariwafa bank Group has the leading banking and financial services network in Morocco. The banking network has a total of 793 branches at the end of December 2009, with an extension of 92 branches during the year, including six business centers. As of December 31, 2009, Attijariwafa bank Group's total assets amount to 290.4 billion dirhams.

Arab Bank Morocco - It offers a variety of products and services covering four major areas: Consumer Banking, Corporate and Investment Banking (CIB), AB Private Banking and Treasury. In 2010, Arab Bank Group achieved pre-tax and after provisions profit of US $486.8 million; total assets reached US $51.1 billion, while shareholders' equity equaled to US $8.4 billion.

Bank Al-Maghrib - It was created in 1959 in substitution for the former "Banque d'Etat du Maroc".

How to Calculate Coupon Yield

The coupon yield (or nominal yield, or the coupon rate) is simply the interest rate stated on a bond. For instance, a bond with a 6% coupon rate has a nominal yield of 6%. It is calculated by dividing the annual coupon payment (or interest) paid by the face value.

The formula for calculating coupon yield is as follows:

Nominal yield = Coupon payment / Face value
Nominal yield = Annual Interest Payment / Par Value

Example 1:
If you buy a bond for $5,000 and receive $100 in annual interest payments, then your coupon yield is: 100 / 5,000 = 2%.

Example 2:
A convertible bond has a par value of $1,000 and a current market price of $920. The coupon payment is $30 per annum. Calculate the coupon yield.
Nominal yield = Coupon payment / Face value = 30 / 1,000 = 3%
Thus, a bond with a $1,000 par value that pays 3% interest pays $30 per year in 2 semi-annual payments of $15.

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