First Independent Mena Newspaper
Moroccan banks’ profitability continued to recover strongly in 1st half of 2023, with aggregate net income reaching record levels, says Fitch rating agency, noting that the positive trend should continue in 2nd semester due to higher interest rates and loan book growth. The seven largest banks’ aggregate net income increased by 28% yoy in 1st […]
Fitch Rating highlighted the positive outlook for the seven largest Moroccan banks in 2023 whose profitability is set to improve on the back of a better risk management. “We expect profitability will improve at a faster pace in 2023 as lower impairment charges (LICs) should continue to decline while higher rates will start to feed […]
Morocco’s central bank has efficient and effective regulatory control of the banking sector contrary to what Fitch rating claimed in a recent report, said head of the bank Abdellatif Jouahri. The central bank governor, who was speaking to reporters, said Fitch was wrong in its conclusions that run contrary to what other international rating agencies […]