Morocco’s Banking Rate Dips Slightly Amid COVID-19, Central Bank Reports

In this banking system dashboard established by BAM, the number of branches is slightly down, standing at 6,367, instead of 6,406 for the same period. Meanwhile, the number of inhabitants per branch has evolved, standing at 5,600 instead of 5,500 at the end of 2020.

BAM’s point on the structure of the banking system reveals the existence of 90 credit and similar institutions, including 19 banks, 5 participative banks, 27 finance companies, 6 offshore banks, 12 microfinance associations and 19 payment institutions.

An analysis of the structure of deposits has shown a predominance of credit current accounts, which represent 64.6%. This is followed respectively by term deposits (17%) and savings accounts (15.6%). For their part, long-term loans are in the lead with 36%, reports BAM. This is followed by short-term loans (32.1%) and medium-term loans (23.9%).

Regarding the concentration of banks by shareholder status, this same BAM banking system dashboard indicates a predominance of banks with majority Moroccan private capital. The latter hold 53.8% of the branches, 64.5% of the assets, 64.5% of the deposits and 62.7% of the loans.

Finally, BAM reports a total balance sheet of 1,485 billion dirhams (MMDH), for activity and profitability. This score is up 6.3% compared to June 2019, and a total customer deposits of 974 MMDH (+4%), a net banking income (NBI) of 26.5 MMDH and a net profit of 4 MMDH, the same source specifies.