Moroccan Participatory Banks See 49% Surge in Deposits, Expats Hold 3.2% Share

Representing 23% of resources, more than 78.1% of these deposits are held by resident individuals. Moroccans living abroad (MRE) hold a share of 3.2% and legal entities hold 17.5%, according to Bank Al-Maghrib (BAM) in its 17th annual report on banking supervision for the 2020 financial year. Investment deposits, on the other hand, increased by 173% to 988.7 million dirhams.

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Apart from the result of the fiscal year, the accounting equity of participatory banks and windows increased by 6% to 2.4 MMDH, or 14.4% of resources. This increase of 143 MDH is the result of the increase in the share capital of participatory banks of around 3.6 MMDH and the deepening of the debit carry-forward of the participatory banking sector to 1 MMDH and the amount of unpaid capital to 200 MDH. Regarding the capital injections made by participatory banks, they are notably reserved to counter the impact of the deficit results in order to maintain the accounting equity above the regulatory level of 200 MDH. As for the capital endowments of participatory windows, they remained almost stable at 695 MDH.

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Regarding the outstanding refinancing of participatory banks, with the parent companies by wakala bil Istithmar, an increase of 40% was recorded during the year, i.e. 3.4 MMDH equivalent to 25.2% of the total liabilities of these banks. In addition, an outstanding amount of 465.3 MDH, or 3.5% of the resources of the banks, was carried out in the form of sight deposits within the group. During the same year, participatory windows increased by 93% to 1.2 MMDH, or 35% of their resources. Advances in other liabilities remained stable at 80% and 22% of total liabilities, BAM pointed out.