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Keywords: Banking


Spanish Banking Heavyweights BBVA and Sabadell in Ambitious Merger Talks

In a bold move that could reshape the European banking landscape, Spanish banking powerhouse BBVA (Banco Bilbao Vizcaya Argentaria) has announced its intention to acquire its domestic rival Banco Sabadell through a strategic merger proposal. This audacious bid, unveiled on Wednesday, aims to create one......

French Banks' African Exodus Fuels Competition, Unleashes Growth for Local Lenders

In a landscape-shifting move, major French banks are withdrawing from their long-standing presence in African markets, creating new competition and opening doors for local and regional lenders. This trend, outlined in a recent Fitch Ratings report, signals a significant transformation in the African......

Société Générale Sells Its Stake in Société Générale Maroc to Saham for 745 Million Euros

The banking group Société Générale announced on Friday that it has signed a contract to sell its stake in Société Générale Maroc to the Moroccan holding company Saham for a total of 745 million euros. According to Société Générale's......

CIH Bank Teams Up with Google to Introduce Google Pay in Morocco

In a groundbreaking move that solidifies its position at the forefront of digital banking, Morocco's CIH Bank has forged an innovative partnership with Google. This strategic alliance paves the way for the highly anticipated launch of Google Pay, a cutting-edge contactless payment solution, in the......

Bank Al-Maghrib: 145 Bank Branches Closed Their Doors in 2023

In the digital era where convenience is paramount, the Moroccan banking sector experienced a notable transformation in 2023. According to a report by Bank Al-Maghrib, the nation's central bank, 145 bank branches ceased their physical operations, while only 42 new branches emerged, resulting in a......

Société Générale Maroc Clinches Four Awards at the 2023 African Banking Awards

Société Générale Maroc adds new accolades to its list of achievements, as the Group is honored four times by the internationally renowned platform, "EMEA Finance Magazine," at the 2023 African Banking Awards. The bank secures the titles of "Best Foreign Bank"......

Deceleration in Banking Credit Growth: A Closer Look at Morocco's Financial Landscape

After experiencing a robust growth rate of 7.5% in 2022, the expansion of banking credit in Morocco has slowed down to 4.9% by the end of October 2023. This deceleration is attributed to a 3.8% decline in cash facilities, marking a notable contrast to their significant surge over the past three years.......