MOROCCO · BANKING
Key Facts
- —What is happening Saham Bank, a large Moroccan retail bank, launched a private banking offer for wealthy clients and asset-holding families on Thursday, 22 October 2026, under the name Saham Bank, Private Banking & Family Office.
- —Why it matters It shows a bank bought by the Saham Group in 2024 moving up-market into wealth management, a segment Moroccan banks are increasingly competing for, though no minimum wealth, fees or client targets were disclosed.
- —The numbers The bank has about 278 branches, 13 subsidiaries and more than 3,000 staff, and its consolidated net banking income for the first half of 2026 was MAD 3.36 billion (about US$343 million), up 8.5%.
- —Who is who Saham Bank is the former Société Générale Maroc, owned by the Saham Group of businessman Moulay Hafid Elalamy; Salima Benhima directs the new Private Banking & Family Office unit.
- —What to watch Watch for a stated minimum wealth threshold, fees and a client target, and for the date when the dedicated mobile app reaches clients, none of which the launch announcement gave.
- —What it means for you For US-based families with Moroccan assets, the unit is a possible local adviser for investing and inheritance planning, but no terms, thresholds or services for US residents were announced.
Saham Bank has launched a private banking and family office unit for wealthy Moroccan families. The bank has not said how much money a client needs.
Saham Bank private banking is now a stand-alone offer in Morocco, announced on Thursday, 22 October 2026. The bank says the unit, called Saham Bank, Private Banking & Family Office, serves wealthy individuals and families who hold large assets.
For a US reader, this is company news about the Moroccan banking market rather than a market-moving event. Saham Bank is not a US-listed firm, and its announcement gives no figures for the new business.
What Saham Bank Private Banking Offers
Moroccan outlets LeSiteinfo, Le Nouvelliste and InfoMaroc carried the announcement on 22 October. They describe four pillars: a dedicated private banker, specialist expertise, financial innovation and a digital service.
Each client gets one private banker who advises on wealth decisions and coordinates the bank’s internal experts. The bank stresses listening, discretion and availability.
The expertise pillar covers investment strategy, wealth engineering, the structuring of assets and succession planning. Wealth engineering means designing how assets are held and passed on, for example through family structures.
A pillar on financial innovation promises investment solutions that comply with the rules that apply to them. The announcement does not name any product, fund or return.
A Dedicated App and an AI Assistant
The digital pillar is a mobile app reserved for these clients, with a dashboard of their wealth and online stock trading. It also includes an assistant based on artificial intelligence.
The bank says more services will be added to the app over time. It has not named the app, given a launch date or said whether it is live today.
How the Bank Describes the Launch
Salima Benhima, director of Saham Bank, Private Banking & Family Office, is quoted in the announcement. She says the aim is a “distinctive experience” for wealth clients that matches their demands, in LeSiteinfo’s French text.
Le Nouvelliste quotes her as saying the offer combines specialist advice, a personal banking relationship and digital tools. The launch campaign follows the bank’s slogan, “Accelerator of Your Ambitions”, and speaks of passing wealth between generations.
The unit is presented as one brand inside the bank’s wider transformation and repositioning. LeSiteinfo notes that the bank redesigned its mobile app on 10 October 2026.
Who Owns Saham Bank and How It Is Doing
Saham Bank is the new name of Société Générale Maroc, which the Saham Group bought from the French bank Société Générale. Yabiladi put the deal, which also covered subsidiaries and an insurer stake, at an estimated 745 million euros (about US$837 million).
The Saham Group is a Moroccan holding company founded by Moulay Hafid Elalamy, a former industry minister. North Africa Post reported that the bank unveiled its Saham name on 18 June 2025, about six months after the purchase closed.
Le Nouvelliste and InfoMaroc describe a bank that has operated in Morocco for more than a century. They give about 278 branches, 13 subsidiaries and more than 3,000 employees.
The bank’s half-year release, dated 31 August 2026, shows consolidated net banking income of MAD 3.36 billion (about US$343 million), up 8.5%. Net banking income is a bank’s operating revenue before costs and provisions.
On the bank’s own balance sheet, customer loans reached MAD 88.7 billion (about US$9.06 billion), up 8.1%. Deposits were MAD 88.0 billion (about US$8.99 billion), up 4.4%.
The release does not give net profit or total assets. Conversions use the market rates of 22 October 2026 from open.er-api.com, about 9.79 dirhams and 0.89 euro per US$1.
A Positioning Move, Not a Market Mover
Newsroom judgement: this is real company news but a modest positioning move. The launch is a new brand and service model, with no client numbers, assets under management or financial target.
Several Moroccan banks are courting wealthy clients, a trend FinancialAfrik described in May 2026 as a strategic battle. On the newsroom’s reading, Saham Bank’s move matters mainly as a sign of where the bank wants to grow.
What It Means for US Readers
US investors cannot trade Saham Bank shares on a US exchange, and the announcement carries no earnings guidance. The launch has no direct effect on US markets or on the dollar-dirham rate.
US citizens with family assets in Morocco may find a local private banker useful for inheritance and investment questions. Anyone considering it should ask about fees, minimum balances and US tax reporting, because none of these were published.
What Is Not Known
The announcement does not state the minimum assets needed to join, the fees or the number of private bankers. It also gives no client target and no sum the bank hopes to manage.
The original LesEco article and the bank’s own press release could not be opened. The details here come from three other Moroccan outlets that agree with each other.
It is not clear whether the app and the stock trading service are already live. No date for a wider rollout has been published.
What Comes Next
The bank is expected to add features to the app over time, and it may later publish thresholds or product details. No date has been given for either step.
The launch does not mean that the bank is changing its ownership or listing its shares. The bank’s board chairman said in June 2025 that an IPO is not a priority, North Africa Post reported.
Frequently Asked Questions
What did Saham Bank launch on 22 October 2026?
It launched Saham Bank, Private Banking & Family Office, a unit for wealthy individuals and families. It offers a dedicated private banker, wealth advice and a digital app.
Who can join the new private banking offer?
The bank says it targets wealthy clients and asset-holding families. It has not published a minimum amount of assets.
Who owns Saham Bank?
Saham Bank is owned by the Saham Group, founded by Moulay Hafid Elalamy. It was formerly Société Générale Maroc.
What does the digital service include?
A mobile app shows a dashboard of a client’s wealth and allows online stock trading. It also includes an assistant based on artificial intelligence.
Does this affect US investors?
Not directly, because Saham Bank shares do not trade in the United States. It may interest US families with assets in Morocco.
Sources: LeSiteinfo, 22 October 2026; Le Nouvelliste Maroc, 22 October 2026; InfoMaroc, 22 October 2026; H24info, 22 October 2026; Saham Bank, H1 2026 results release (AMMC site); Yabiladi, April 2024; North Africa Post, June 2025; FinancialAfrik, 15 May 2026 (all accessed 22 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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