Market Insights Financial Banking Traditional Banks

Traditional Retail Banking - Morocco

Morocco

In Morocco, the Traditional Retail Banking market market is expected to witness a significant increase in Net Interest Income, reaching US$1,015.00m in 2024.
It is projected that this figure will continue to grow at an annual rate of 17.59% from 2024 to 2029, resulting in a market volume of US$2,282.00m by the end of 2029.
When compared globally, it is noteworthy that China will generate the highest Net Interest Income, with a projected amount of US$2,426.0bn in 2024.
Despite the rise of digital banking services, traditional retail banking remains dominant in Morocco due to the country's strong preference for in-person transactions and personal relationships with their bankers.

Key regions: France, Brazil, Germany, United Kingdom, United States

Definition:
Traditional retail banking refers to the financial services sector that provides a range of financial products and services to individual consumers through store-based branches and other traditional channels. These services include personal loans, savings and checking accounts, credit cards, mortgages, and other financial products designed specifically for individual consumers.
Traditional retail banks have a long history of serving customers and have established relationships and a deep understanding of the financial needs of their communities. They offer a wide range of services and are able to provide personalized advice and support to their customers.
Despite facing increased competition and changing customer preferences, traditional retail banks continue to play a vital role in the financial landscape. They are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services.
Overall, traditional retail banking provides a wide range of financial services to individual consumers through established, trusted channels and continues to be an important part of the financial landscape.

Structure:
The market data comprises Net Interest Income, the value of Deposits, the value of Loans, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.

Additional information:
The Banking market is highly competitive and characterized by the presence of large global players as well as regional and local banks. Banks are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services. Additionally, changes in regulations and the growing trend toward digitalization are shaping the retail and commercial banking market, creating opportunities for new entrants, and forcing existing players to adapt.

Key players in this market are companies such as Industrial and Commercial Bank of China Ltd., Bank of America Corp., and BNP Paribas.

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Analyst Opinion

The Traditional Retail Banking market in Morocco is experiencing a shift in customer preferences towards digital banking services, driven by the increasing adoption of technology and changing consumer behaviors.

Customer preferences: Moroccan consumers are increasingly seeking convenience and efficiency in their banking services, leading to a growing demand for digital banking solutions such as online banking, mobile banking, and digital payment options. This shift is fueled by the younger population's preference for quick and accessible financial services, as well as the convenience of managing their finances on-the-go.

Trends in the market: In Morocco, there is a noticeable trend towards the digitization of traditional banking services, with banks investing in technology to enhance customer experience and streamline operations. This includes the development of mobile banking apps, online account opening processes, and personalized digital services to cater to the evolving needs of customers. Additionally, there is a growing emphasis on data security and privacy measures to build trust among consumers in the digital banking landscape.

Local special circumstances: Morocco's Traditional Retail Banking market is also influenced by local regulatory frameworks and infrastructure developments. The government's initiatives to promote financial inclusion and digital literacy among the population have encouraged banks to expand their digital offerings and reach underserved communities. Moreover, the country's strategic geographic location as a gateway between Europe and Africa positions it as a potential hub for fintech innovation and collaboration in the region.

Underlying macroeconomic factors: The growth of the Traditional Retail Banking market in Morocco is further supported by favorable macroeconomic conditions, including stable economic growth, low inflation rates, and increasing foreign direct investment. These factors contribute to a positive business environment for banks to innovate and expand their service offerings to meet the evolving needs of customers in a competitive market landscape.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data provided by the IMF, World Bank and the annual reports of the top 1000 Banks by asset size. Next we use relevant key market indicators and data from country-specific associations such as GDP, deposit interest rates, lending interest rates or bank account penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast financial services for digital as well as traditional products and services.

Additional Notes:

The market is updated twice per year in case market dynamics change.