Attijariwafa Bank is developing a definite interest in the English-speaking markets of Africa. It would be among the banks wishing to buy Atlas Mara’s stake in Union Bank of Nigeria, the 8th largest bank in the country.
Moroccan households are regaining a certain improvement, as reflected in the future financial situation, which gained 20.7 points compared to the fourth quarter of 2020 and 12.8 points compared to the first quarter. This rebound in consumer confidence is reflected in the real estate sector, which shows an outstanding credit of 223 billion dirhams at the end of March, up 4.3%.
The African Development Bank (AfDB) intends to support the improvement of the business climate in Morocco, which is striving to "succeed in a high-road crisis exit". In this sense, a grant agreement of nearly one million US dollars was signed on Monday, May 3, between the AfDB and the Moroccan Ministry of Economy, Finance and Administration Reform.
The Foreign Exchange Office has designed and posted online a digital brochure on the exchange facilities and benefits granted to Moroccans residing abroad (MRE). From opening accounts to personal foreign exchange allocations, bank loans and guarantees, and foreign exchange investments in Morocco, the office explains everything.
Morocco has more than 26 million unbanked people, one of the highest in the world, according to a British study on the subject.
There is now a simplified digital guide to access the additional tourist allowance. The Office des Changes (Foreign Exchange Office) provided on Monday the necessary explanations on the operating conditions of the "Additional Tourist Allowance" (DTS) service, through a publication on its website.
In 2020, the profitability of the banking sector was shaken by several problems related to the health crisis. To better understand the situation, the rating agency Moody’s has just published a note on the state of Moroccan banks.
An armed robbery took place this Monday, April 19 in a bank agency in Tangier. The alleged perpetrators, two hooded individuals, took away 50,000 DH. An investigation is underway to identify and arrest them.
In order to improve the business climate, Bank Al-Maghrib (BAM) launched on Thursday the Centralized Irregular Checks Service (SCCI). The company Checkinfo will be responsible for its management.
Bank Al-Maghrib is optimistic about Morocco’s economic situation. This emerges from its April economic situation note on the main figures of the Moroccan economy, including Moroccans residing abroad.
Four formerly stable Moroccan banks are now on a negative outlook. Moody’s has just confirmed the Ba1 long-term deposit ratings of these banks.
Companies continue to suffer the impacts of the health crisis, with for each country, its support measures and results that have difficulty reassuring. According to a study by the International Monetary Fund, the insolvency of SMEs could lead to a drop of more than 2 percentage points in the core capital ratios of banks this year.