Rabat – The Arab Bank group will continue operating in Morocco thanks to its good performance, Economy and Finance Minister Nizar Baraka said on Monday.
Speaking to MPs at the lower house, Baraka explained that the Central Bank, Bank Al Maghrib, was informed that the Arab Bank will continue operating in Morocco even after closing an agency in Fez and two others in Casablanca.
The Minister added that the loans granted by the Arab Bank’s agency in Fez amount to 17 million dirhams while its deposits stand at nearly 38 million dirhams.
As for the Bank’s two agencies in Casablanca, which employ 9 people, they have deposits amounting to 64 million dirhams, he said.
The closure of the Bank’s agencies in Fez and Casablanca was dictated by their unprofitability, Baraka went on to say, noting that the deposits of the closed agencies will be transferred to other agencies.
