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Both GDP growth and the decline in demand for company loans hampered the development of consumer lending in Morocco, such that GDP posted growth of 3.1% since January 2019, while companies’ investments have stagnated since 2018.
Bank institutions are reducing interest rates to encourage borrowing
Bank institutions are facilitating the process of credit and offering new programmes at lower interest rates. To illustrate, Attijariwafa Bank has set a new pricing policy where rates are no longer fixed depending on the repayment period and the client's income, but instead sets a specific rate for a longer interval of the loan period.
Digitalisation is highly penetrating consumer lending
In Morocco, the rate of banking is rapidly increasing, reaching 73% in 2019. In parallel, technology advancement is impressive and covering several fields, including banking systems.
Mortgage remains the most difficult credit to boost
Despite the huge efforts made by bank institutions in cooperation with the government, especially the reduction in interest rates, mortgages/housing is witnessing a considerable slowdown in 2019. This is due to a general decrease in demand for real estate among Moroccans, such that the high cost of living and lack of funds are hampering decision making around mortgages/housing.
Future of consumer lending remains uncertain
The majority of economic indicators in Morocco suggest different expectations. Thus, the future of employment, GDP, in addition to the continuous growth of living costs and income levels remain uncertain.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Lending industry in Morocco with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Lending industry in Morocco, our research will save you time and money while empowering you to make informed, profitable decisions.
The Consumer Lending in Morocco market research report includes:
Analysis of key supply-side and demand trends
Historic volumes and values
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
What is the market size of Consumer Lending in Morocco?
What are the major trends set to impact the market in Morocco?
What capacity for consumer debt still exists in the market?
What’s the state of credit quality in the market?
Has the economic downturn reset the lender competitive landscape?
Why buy this report?
Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions