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Morocco’s banks suffered from difficult economic environment

Morocco’s banks suffered from difficult economic environment
Moroccan banking activities suffered in 2013 from the impact of a difficult economic environment, said in Casablanca, Lhassane Benhalima, banking supervision manager at central bank “Bank Al-Maghrib”, Morocco World News website reported.

Banking activities in 2013 were marked by a sharp decline of loans compounded with mounting non-performing loans and a slowdown in non-agricultural activities, as well as difficulties in other economic sectors, the Moroccan central bank official told journalists during a press conference dedicated to presenting BAM’s annual report on 2013 activities.

Despite these circumstances, banks generally managed to uphold their results, thanks to market activities income, noted Benhalima, adding that the major banking groups reached satisfactory results, backed by good cross-border activities.