The macroeconomic context
In a 2019 note on the MENA region and Turkey, Standard & Poor’s expected Moroccan growth to slow in 2019 and then accelerate in 2020-2021, driven by the automotive industry, tourism and phosphates.
Exposure to real estate
The agency highlighted banks’ exposure to commercial real estate risks, with over-indebted developers and high non-performing loans, particularly in steel, tourism and construction.
Profitability maintained
Despite the higher provisioning required by IFRS 9, adopted in 2018, profitability was expected to remain high thanks to low labour costs and non-interest-bearing deposits. African subsidiaries contributed positively to the results of the large banks.
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Our teams support financial institutions and their subsidiaries with internal control, reporting, valuation and due diligence. Archive article: the data dates from 2019.
This information is general and dates from its publication. For your situation, talk to our experts.
