Moroccan banking sector forecasts $2.2 billion profit by 2026

According to Attijari Global Research’s (AGR) January report Morocco’s banking sector has posted a 13.2% increase in aggregate Net Banking Income (NBI), reaching $4.57 billion. in the first half of 2024. Market activities saw a particularly strong rise, growing by 57.2%, while interest margins rose by 4.8%. Late last year Bank Al-Maghrib reduced the benchmark rate to 2.5% in December 2024. This move looked to stimulate credit growth while managing inflation, which declined to 0.7% in October 2024 from 10% in February 2023.