Morocco’s banking sector remains heavily concentrated, with three major privately owned groups controlling over 60 percent of total assets, loans, and deposits, according to the 2024 Financial Stability Report issued by Bank Al-Maghrib, ACAPS, and the Moroccan Capital Markets Authority.
These banks, mostly held by Moroccan capital, account for 60.7 percent of assets, 61.6 percent of loans, and 62.7 percent of deposits. Together, they operate 2,955 branches nationwide and maintain a foreign presence through 51 subsidiaries and 22 liaison offices.
Total consolidated banking assets rose to MAD 2.15 trillion in 2024, up 8.3 percent from 2023, driven primarily by market activity and, to a lesser extent, lending growth. The sector’s assets represent 134 percent of Morocco’s GDP.
Islamic finance continued to expand, with participatory banking assets increasing 19 percent to MAD 39 billion. Despite economic headwinds, the report concludes, Moroccan banks maintained solid fundamentals in profitability, liquidity, and capital adequacy.
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