Hibapress
The Moroccan financial sector has demonstrated overall resilience and solid fundamentals in 2023, in an unfavorable economic context, according to the 11th annual report on financial stability, published by Bank Al-Maghrib, the Insurance and Social Security Supervisory Authority and the Moroccan Capital Market Authority.
The size of this sector, measured by the total assets of its components, crossed the 3,000 billion dirham mark in 2023, an increase of 6.8%, representing 214% of the national gross domestic product (GDP), this report specifies.
The banking sector remains the major component of the financial sector, holding nearly 61% of total assets, the same source said.
He added that the financial sector represents 40.58% of the capitalization at the Casablanca stock exchange, carried by seven banks, five financing companies and five insurance companies.
Reviewed and approved by the Systemic Risk Coordination and Monitoring Committee (CCSRS) at a meeting in early July 2024 in Rabat, the financial stability report is structured around four chapters, dealing with “economic developments at the international and national levels”, “evolution of the financial situation of non-financial agents”, “assessment of the soundness and resilience of financial institutions” and “developments in capital markets and market infrastructures”.
