Low Income Banking in Morocco

Banque Populaire of Morocco currently achieved a major milestone in reaching the largest number of customers 4 million. The head of the risk department speaks about this major milestone and predicts future areas of growth. He believes that future growth is going to be in the low income banking segment. The bank’s strategy is to focus on this market niche.

“We started what we call low-income banking about three years ago. This program allows us to bankarize every social level of Moroccans. Low-income banking is particularly dedicated to Moroccans with a low income. For us it was a real opportunity because now we are able to recruit more than 400,000 customers per year. This also allows us to continue to be the bank of mobilization of saving and of deposits. We are first in the Moroccan market in deposits, in both local deposits and in Moroccans living abroad, with a market share of over 50%,” he says.