Morocco's 19 banks are relatively advanced compared with those of their north African neighbours. Its financial institutions report under International Financial Reporting Standards, comply with Basel III, and banking assets represent about 125% of gross domestic product.
In addition, the sector is posting growth of about 7% a year in a low-inflation and low-interest-rate environment, while the percentage of non-performing loans has dropped sharply from dangerous highs of 20% in the early 2000s to less than 7% today.
