Bank of Africa stock: Reserves fund 5.12 million new shares
Published on 11/09/2026 at 00:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSCapital increase reshapes share structure
- The planned transaction converts reserves into equity without requiring a cash contribution from shareholders.
- One allocation right is intended for every 43 existing shares, while the new shares carry dividend rights from January 1, 2026.
- Bank of Africa ranked ninth among Africa's 100 largest banks by Tier 1 capital in the cited 2026 ranking.
Bank of Africa plans to increase its share capital through the capitalization of reserves and the free allocation of 5,122,834 new shares. Morocco World News reported the plan on October 17, 2026, citing a notice from the Casablanca Stock Exchange.
Reserves replace new cash
The operation has a nominal value of MAD 51.23 million, based on a nominal value of MAD 10 per new share. It was approved at an extraordinary general meeting on June 25, 2026, and is funded by incorporating existing reserves into equity.
Shareholders are due one allocation right for every 43 existing shares. The rights were scheduled to start trading on October 27 under the ticker ABOAG, while the new shares were scheduled for delivery on October 28 and admission to the Casablanca listing on October 29. The new shares carry dividend rights retroactively from January 1, 2026.
Position among African banks
The transaction strengthens Bank of Africa's share capital without requiring an additional cash contribution from investors. It also changes the number of shares in circulation, while the rights mechanism is intended to give existing shareholders access to the allocation.
Morocco World News said Bank of Africa ranked ninth among Africa's 100 largest banks by Tier 1 capital in the 2026 African Business ranking, with Tier 1 capital of $3.84 billion. Attijariwafa Bank ranked third and Banque Centrale Populaire sixth in the same comparison.
Bank of Africa's business model
Bank of Africa provides banking services in Morocco, including accounts, cards, financing and digital banking. Its website also presents the group as focused on opportunities across Africa and serving customers through a regional network.
In the cited African banking comparison, the Moroccan group was smaller by Tier 1 capital than Attijariwafa Bank and Banque Centrale Populaire. That places Bank of Africa among the continent's major banking groups while leaving it behind those two Moroccan peers on that measure.
Bank of Africa stock at a glance
- Company: Bank of Africa
- ISIN: MA0000012437
- Ticker: BOA
- Listing: Casablanca Stock Exchange
- Corporate action: MAD 51.23 million capital increase through reserve capitalization
- New shares: 5,122,834
For the broader market backdrop, see Current market reports.
