Moroccan financial sector shows growth in leasing and participatory finance

Morocco's financial sector is seeing significant shifts in growth patterns. Maroc Leasing, a subsidiary of Groupe Banque Populaire (BCP), reported a 10.4% increase in revenue for the first half of 2026, reaching 2.38 billion dirhams. While revenue grew, the net banking income (PNB) rose more modestly by 6.1% to 181.74 million dirhams, and net profit increased by 5.1% to 55.4 million dirhams.

Simultaneously, participatory finance in Morocco is experiencing rapid expansion, particularly through Mourabaha real estate financing. The outstanding amount for Mourabaha reached 31.5 billion dirhams by the end of June 2026, marking a 16.7% annual increase and nearly doubling over the last thirty months. This growth stands in stark contrast to conventional mortgage credit, which has seen stagnant growth of approximately 3%. Mourabaha currently accounts for 99% of participatory financing distributed in Morocco.