Top List of Banks in Morocco
Morocco's economic performance has improved since the early 1990s, and the outlook for 2000, 2001, and beyond is equally promising. The financial sector has been an essential source of strength in Morocco's economic transformation, bringing stability and growth to the country by mobilizing domestic savings, improving access to credit, and reducing the cost of borrowing. This has increased the number of services provided by all banks, including development banks. The leading indicators show sustained growth in terms of financial inclusion.
The finance and banking industry in Morocco is regulated by the Bank Al-Maghrib, the central bank of Morocco. The foundation of the sector was, thus, established by the various laws enacted by this authority, including the new Bank Act. Here are some banks making moves in Morocco.
Attijariwafa National Bank
Attijariwafa National Bank: Morocco is the largest and leading bank in Morocco. It provides banking, financial, and investment services for individuals, professionals, and businesses. The Bank employs 15,289 people, has a network of 4,930 branches across the country, and operates in several foreign countries.
The Bank offers a wide range of services to its customers through its extensive network of branches: including savings accounts, loans to individuals, consumer credit, online trading, financial advice and wealth management, payment cards, and payment methods.
Total Assets: US$ 53.3 billion (2018)
Crédit Banque Populaire du Maroc
Crédit Banque Populaire du Maroc is a Moroccan financial company whose activity is banking and insurance. It is part of the Groupe Crédit Agricole.
In Morocco, it offers a range of wealth management, expertise, asset management, insurance, and private banking. In addition, it has an extensive network of agencies and branches in the Kingdom (97 branches in Morocco).
Total Assets: DH 35 billion
Banque Marocaine pour le Commerce et l'Industrie (BMCE Bank) is a full-service bank offering a wide range of financial products and services to corporate and individual clients. BMCE Bank is one of the leading banks in Morocco and is the second-largest bank in Africa in terms of a network. The bank has total assets of USD 49.9 billion, 5655 (2016) employees, and 1,200 branches.
The Group's activities cover all segments of the banking sector: retail banking (consumer credit, savings, and investment products), corporate banking (SMEs and large accounts), investment banking (structured financing), and treasury operations.
Société Générale Commercial Maroc
Société Générale Commercial Maroc (SGMC), Morocco’s leading bank, has a total of 579 branches across the country. It provides services to both corporate and individual customers, with a broad range of retail banking products in Morocco.
The retail banking division offers various financial products to individuals and professionals, including savings accounts, current accounts, checking accounts, e-banking services, online trading services, and investment funds.
Total Assets: US$1.788 trillion (2020)
Employees: 146,000 (2015)
BMCI is a subsidiary of the BMCE Group, the second-largest banking group in Morocco. Founded in 1966 by Othman Benjelloun, the BMCE Group has since developed a network of around 250 branches, including those abroad. The group is also active in insurance and other financial services. In 2020, the total assets of the BMCE Bank amounted to about approx. MAD 9.5 billion.
BMCI is one of the leading banks in Morocco. It operates as a universal bank with several divisions, offering retail banking products and services to individuals, professionals, and SMEs. BMCI also provides private banking, corporate, and investment banking services and insurance products through its subsidiaries.
Crédit Bank International Commercial
Crédit Bank International Commercial (CINCO) is a bank in the Kingdom of Morocco. It is engaged in providing commercial banking services. It offers retail and corporate banking services, including credit cards, loans, deposits, checking accounts, savings accounts, and other banking services. The bank also provides online banking facilities to its clients.
As of 31 December 2008, the total assets of the bank were valued at US$ 1.2 billion and had approximately more than 100 employees.
Crédit Fès du Maroc
Crédit Fès du Maroc is a Moroccan bank, established in 2000 and headquartered in Fes, Morocco. Crédit Fes du Maroc provides financial services to individuals and businesses through a network of banks and branches throughout the country.
Crédit Fes du Maroc is one of the largest commercial banks in Morocco (based on assets), with total assets of MAD 102.4 billion (US$12.5 billion) on December 31, 2015. Crédit Fes du Maroc offers a wide range of banking services and products, including loans, savings accounts, corporate banking, asset management, insurance products, credit cards, and remittances. Crédit Fes du Maroc operates through 338 branches across Morocco and employs more than 2,550 people.
CIMH offers a wide range of products and services to individuals and businesses. CIMH offers business asset management services, leasing programs, foreign trade financing, import/export financing, and receivable financing. Businesses can also take advantage of capital investment loans, working capital loans, and overdraft facilities. In terms of advice for businesses, CIMH offers financial analysis and advice on all aspects of business management.
CFG Bank in morocco is the first Bank in morocco to be created based on Islamic principles. It is one of the most important financial institutions in the country, as it has a high rate of liquidity, with total assets of 160.5 billion USD (2018) and more than 17,407 employees. The Bank was established in 2007 in Casablanca, Morocco, and was founded by King Mohammed VI to provide banking services that apply the principles of sharia (Islamic law). The Bank offers its customers a comprehensive range of products and services: Current accounts, savings accounts, time deposits, consumer credit, mortgages, and business loans. In addition, CFG Bank also offers customers a full range of insurance policies and asset management.
Arab Bank is a leading institution that was founded in Jerusalem in 1930. The Bank has been consistently recognized as the best Arab banking institution by Euromoney, Global Finance, and other renowned publications. Arab Bank provides innovative banking solutions to more than 600 branches spanning five continents, including North and South America, Europe, Asia, Africa, Australia, and the Middle East. Arab Bank offers various specialized services to meet customer needs, including banking services for personal customers, private Banking, Investment Banking, and asset management. The Bank is also estimated to have had a total of 75 employees.
Which bank is the best in Morocco?
A: Attijariwafa Bank