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At the end of 2024, the number of bank accounts in Morocco is expected to reach 38.2 million, marking a significant increase of 5.2% compared to 2023, according to data released by Bank Al-Maghrib.
Current accounts represent 64% of this total, amounting to 24.3 million accounts, while savings accounts account for 30% with 11.3 million. Company and individual current accounts represent 5% of the total, equating to 1.8 million. Foreign currency accounts are limited to 0.3%, or 123,945 accounts, with 76% in euros.
Despite the overall growth, the pace of opening new accounts has slowed over the past year, with 3.1 million new accounts registered, a decrease of 6.1% from 2023. Approximately 19.1 million individuals hold at least one bank account, including 589,026 legal entities, representing 3.1%.
For individuals, the number has risen to 18.5 million, with 39% being women and 61% men. The age group of 60 and above leads in account ownership with 4.3 million, followed by the 35-45 age group with 3.8 million, and those under 25 with 1.8 million.
Bank Al-Maghrib indicated that 47% of individuals possess only one bank account, while 29% have two, and 13% own three accounts. Furthermore, 883,579 people opened their first account in 2024, compared to 874,947 the previous year, reflecting a continued trend of new segments integrating into the banking system, despite a slight slowdown in growth.
