Ahmad 
Morocco has seen a shift within the banking sector after the closure of branches of banking agencies to 5,811 branches compared to 5,914 last year.
Information indicates the closure of 145 branches against the opening of 42 new branches, as the local Moroccan banking sector deals with 5,606 branches and 9 foreign banks, and an increase in participation banks from 190 to 196 branches.
The Société Genératé des Banks du Marocaine (SOBM) led the closures, with 49 branches completed, followed by Attijariwafa Bank with 33 branches, Bank of Africa with 28 branches, BMCI Bank with 20 branches, and Banque Populaire du Maroc with 15 branches.
The closure of bank branches in 2023 is due to the trend towards digital transformation, and according to experts, the closures mainly affected the branches of foreign banks in Morocco, as parent banking groups sought to reduce operational costs and manage investments in light of global changes.
Banking institutions are moving to strengthen their digital infrastructure, adopt electronic alternatives to banking transactions, and develop smart mobile application features, with the aim of reducing customers’ dependence on existing bank branches, signaling a new era of digital banking services in Morocco.