Casablanca – The Municipal Equipment Fund (FEC) recorded a net banking income of MAD 326 million ($35.13 million) in the first six months of 2026, broadly unchanged from the same period a year earlier.
The result follows the FEC’s lowering of the interest rates applied to loans granted to Territorial Collectivities in 2025. The impact of those lower rates was offset by higher financing activity, according to the bank.
Loan commitments reached MAD 2.27 billion ($244.61 million) during the first half of 2026, up 46% from the same period last year. Loan disbursements also increased, reaching MAD 1.41 billion ($151.94 million), a 57% year-on-year rise.
The bank said the growth in lending was supported by strong investment activity at the territorial level. Financing was mainly directed toward an investment program focused on urban and interurban mobility, which the FEC described as a key factor in the attractiveness of local territories.
Customer loans stood at more than MAD 27 billion ($2.91 billion) at the end of June, representing an increase of nearly 3% compared with a year earlier.
The FEC also continued to pursue a financial strategy focused on international markets. The approach aims to diversify its funding sources and secure financing conditions that allow it to offer Territorial Collectivities suitable financing solutions.
In line with its mission, the bank finances projects linked to the economic, social and environmental priorities of Territorial Collectivities, with a focus on sustainable and inclusive territorial development.
Environmental and social considerations are also included in the projects financed by the FEC. At the end of June, nearly 97% of projects committed by the bank fell into categories C or D under its Environmental and Social rating system, corresponding to the lowest levels of risk.
The classification is carried out through the FEC’s Environmental and Social Management System, which is aligned with international standards and is integrated into the financing decision process.
