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Crédit du Maroc targets middle class and small businesses in strategic shift

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Crédit du Maroc targets middle class and small businesses in strategic shift
Hespress

Amira EL MASAITIFriday 15 March 2024 – 10:00

Crédit du Maroc said it is shifting its focus from large corporations to the middle class, wage earners, and small and medium-sized enterprises (SMEs).

Ali Benkirane, head of collective management for Crédit du Maroc, announced the new approach. “We’re allocating 10 billion dirhams to support SMEs and 5 billion dirhams for private customers,” Benkirane said in a statement to Hespress on Thursday evening during a press conference to present the bank’s financial results.

The bank plans to expand its physical branch network, bucking the industry trend toward digitalization. “We’ll create any additional agency in consultation with our newly appointed regional directors,” Benkirane explained.

The bank is also heavily invested in digital transformation to enhance its digital banking services and overall investment attractiveness. This focus on digitalization complements their involvement in the “Cap Access” program launched by the Mohammed VI Investment Fund to support Moroccan businesses.

Crédit du Maroc performed strongly in 2023, with net profit jumping 24.4%, driven by a rise in net banking products and improved efficiency.

Banking in Morocco Credit du Maroc

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