Bank of Morocco Reports Growth in Bank Accounts
The Bank of Morocco has announced that its centralized banking account service recorded a total of 38.2 million open bank accounts by the end of December 2024. This marks a 5.2% increase compared to 2023.
In its statistical report on last year’s bank accounts, the Bank indicated that 64% of these accounts are checking accounts, totaling 24.3 million. Savings accounts account for 30% with 11.3 million, while current accounts represent 5% at 1.8 million. Foreign currency accounts make up 0.3%, with 123,945 accounts—76% of which are denominated in euros.
The report also highlighted that 3.1 million new accounts were opened in 2024, reflecting a decline of 6.1% compared to the previous year.
Moreover, the number of individuals with at least one open bank account reached 19.1 million. Among these, 3.1% are legal entities, totaling 589,026 accounts.
The number of individual account holders stands at 18.5 million, comprising 39% women and 61% men. The age group of 60 and above represents the largest segment, with 4.3 million individuals holding accounts, followed by those aged 35 to 45 at 3.8 million, and individuals under 25 at 1.8 million.
Individuals with a single open account represent 47% of the total, while 29% hold two accounts, and 13% maintain three accounts. Additionally, 883,579 individuals opened their first bank account in 2024, compared to 874,947 in the previous year.
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