NewsMoroccan banks: 19.1 million cards issued at the end...

Moroccan banks: 19.1 million cards issued at the end of September

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Cards issued by Moroccan banks reached an outstanding amount of 19.1 million cards at the end of September 2022, up 6.4% compared to December 31, 2021, according to the Center monétique interbancaire (CMI).

This outstanding amount includes 19 million Payment and Withdrawal cards under the “Visa”, “Mastercard”, “Cobadge cmi-mastercard” labels and the national “cmi” brand, indicates the CMI in its recent report.

This growth in outstandings is the result of a significant increase in the number of cards under the “Mastercard” label (+13.7%), a moderate increase in the number of cards under the Visa label (+3.2%) , a marked improvement in the number of cards under the “Cobadge cmi-mastercard” label (+32.4%) and a decline in cards under the “cmi” label (-12.4%) and private cards (- 33.5%) compared to December 31 of the past year, specifies the same source.

The outstanding amount of “cmi” and “Cobadge cmi-mastercard” cards increased by 3.5% to 3.8 million cards, including 2.1 million “cmi” cards and 1.7 million “Cobadge cmi-mastercard” cards.

The ATM (automated teller machine) network in Morocco saw the installation of 145 new ATMs during the first nine months of this year (not taking replacements into account), i.e. an extension of 1.8% compared to December 31, 2021, according to the same source.

This extension has enabled the network to reach 8,085 ATMs, indicates the Center in its recent report, specifying that the best equipped cities are Casablanca with 1,573 ATMs, Marrakech (702), Rabat (663), Tangier (495), Agadir ( 443) and Fes (416).
The ATM network carried out, at the end of September 2022, 271.7 million withdrawals made by Moroccan and foreign bank cards, up 11.6% for 268.5 billion dirhams (MMDH), up 11.1 %, i.e. an average monthly activity of 4,526 withdrawal operations for 4.4 million dirhams for each ATM.

The ratio of the number of cards issued in Morocco per ATM, defined by the ratio of outstanding Moroccan bank cards to the number of ATMs installed, stands at 2,346 as of September 30, 2022.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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