[4] Attijariwafa Bank is controlled by the Al Mada holding company, which is affiliated with the Moroccan royal family.

In November 2008, the group acquired a 51 percent stake in Banque internationale pour le Mali [fr] (BIM, est.

In December 2010, it partnered with BCP Group to acquire a 80 percent stake in BNP Paribas Mauritanie (est.

In the meantime, the group also established operations in Guinea-Bissau in 2008, and through its Senegalese subsidiary CBAO in Burkina Faso in 2011, Niger in 2013, and Benin in 2015.

[14] As of late 2013, the main shareholders of Attijariwafa Bank were Al Mada (47.77%), Moroccan cooperative insurers MCMA-MAMDA (8.09%), Government-owned Caisse de dépôt et de gestion (4.26% via RCAR and 2.31 directly), Santander Group (5.27%, via Santusa Holding), and other Moroccan institutional investors (CIMR 2.34%, CMR 2.27%, Axa Maroc 1.37%, RMA-Watanya 1.32%), plus 6.61 percent held by the group's own insurance arm Wafa Assurance and 4.54 percent held by its employees.

[15] By end-2023, the group's ownership structure had remained substantially stable, with Al Mada's share slightly lower at 46.5 percent.