The Moroccan banking sector has undergone major changes in recent years, primarily driven by the rapid digitization of financial services.
This digital shift has led to a substantial reduction in the number of physical branches, with approximately 517 closures since the COVID-19 pandemic.
The total number of branches decreased to 5,802 by the end of 2023, a trend that accelerated in 2022 and slowed down slightly in the following year.
Despite the reduction in branches, the overall number of employees in the banking sector remained relatively stable.
However, the composition of the workforce may be shifting, with a potential increase in roles related to digital banking and technology.
Financially, the sector exhibited robust performance in 2023 with the combined net profit of all banking institutions reached 16.9 billion dirhams, marking a 20% increase compared to the previous year.
This positive trend was tempered by a 2.1% rise in non-performing loans, highlighting the importance of effective credit risk management.
The Moroccan banking sector is a crucial component of the country’s economy, as its influence extends beyond national borders, with branches operating in 36 countries, including a significant presence in Africa.
The sector is a major contributor to the Casablanca Stock Exchange, accounting for 38% of its market capitalization.
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