Spanish Bank Bankia Expands to Morocco, Opens Casablanca Office to Support Business Growth

Several hundred Spanish companies have subsidiaries in Morocco. The Bankia group does not intend to stay out of the dynamic market that the kingdom represents. But above all, it intends to support these Spanish companies operating in Morocco, with a view to the success of their activities, notes Medias24.

Today, it is estimated that there are more than 800 Spanish companies established in the Kingdom, while at the same time, 20,000 Spanish companies exported to Morocco in 2018. These performances make it possible to estimate the annual trade between the two countries at 15 billion euros, according to the same source.

"Bankia wants to support Spanish companies wherever they are. Physical presence in foreign countries represents an evolution of our economic model," explained the bank’s director of foreign trade, Jesús Miramón, relayed by Spanish media.

In Morocco, Spanish companies operate in several sectors including industry, transportation, commerce, agri-food, fishing and services. They are found mainly in Tangier, Casablanca, Marrakech and Agadir.