CFG Bank : History Wikipedia, the free encyclopedia

CFG Bank

Moroccan bank

CFG Bank

Company type	Société anonyme
Industry	Financial services
Founded	1992; 32 years ago (1992)
Founders	Adil Douiri, Amyn Alami
Headquarters	Casablanca , Morocco
Key people	Adil Douiri (President)
Products	Banking services (current accounts, check accounts, payment cards), mortgage loans, lombard credit, savings (savings accounts, term deposits, savings insurance), stock market
Number of employees	400 (2023)
Website	www.cfgbank.com

CFG Bank is a Moroccan bank founded in 1992. It was initially Morocco's first investment bank, but became a universal bank in 2015, offering services to the general public.^[1]^[2]

History

In 1992, upon their return to Morocco, Adil Douiri and Amyn Alami co-founded Morocco's first investment bank, originally named Casablanca Finance Group.

They were supported by Abdelaziz El Alami (chairman of BCM) and Othman Benjelloun (chairman of BMCE Bank).

In 1998, it acquired a license as a bank specializing in market activities.

In 2001, under the brand Dar Tawfir, CFG Group began distributing savings products to individuals and in 2005 launched the first online stock trading site in Morocco, Africa, and the Middle East.

In November 2015, CFG Group became CFG Bank.^[3]

In October 2023, CFG Bank aims to be listed on the Casablanca Stock Exchange, which will involve a capital increase with an expected amount of 600 million dirhams, approximately 55 million euros.^[4]

References

^ "CFG Bank bets on a hybrid model". L'Économiste. 2015-11-16. Retrieved 2020-09-17.
^ "CFG Bank: 15 branches and 25 outdoor ATMs by the end of 2018". LeBoursier.ma - News Site. Retrieved 2020-09-17.
^ "In Morocco, CFG launches into universal banking". Jeune Afrique. Retrieved 2016-03-15.
^ "Why CFG Bank of Adil Douiri is launching an assault on the Stock Market". Jeune Afrique. Retrieved 2023-10-20.