In 2023, a total of 3.3 million new bank accounts were opened, reflecting an 8.6% increase from the previous year, according to Bank Al-Maghrib (BAM).
BAM’s statistics for bank accounts as of the end of December 2023 reveal that 874,947 individuals opened a bank account for the first time in 2023, compared to 645,412 in 2022. Among these new account holders, 45% are women, 30% are aged between 20 and 25 years, and 18% are between 18 and 20 years old. Furthermore, 92% of these new account holders are Moroccan residents, while 4% are Moroccans residing abroad.
By the end of December 2023, the Central Bank’s database recorded a total of 36.3 million open bank accounts, marking a 7.2% increase from 2022. Of these, 63% are checking accounts (23 million), 30% are savings accounts (10.9 million), and 0.3% are foreign currency accounts (114,917), with 80% of the latter denominated in euros.
The number of individuals holding at least one open bank account reached 18.2 million, of which 5% are legal entities (839,253). The number of individuals with open bank accounts stands at 17.4 million, comprising 38% women and 62% men. Among individuals, those aged 60 and over represent the largest group, with 4 million account holders (23%), followed by those aged 35 to 40 and 40 to 45, each accounting for 1.9 million (11%). Notably, 48% of identified individuals hold a single account, 28% have two accounts, and nearly 13% possess three accounts.
