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Join on Telegram Rabat – Morocco’s largest banking group, Attijariwafa Bank, has funded 12,000 young Moroccan entrepreneurs, bringing its contribution to the government’s Intialaka funding program to 41% at the end of 2021.
Attijariwafa Bank accorded MAD 2.7 billion ($284,6 million) to young Moroccan businesses makers in 2021. This funding is in line with the objective of the government-backed Intilaka program, which aims to support young business makers, according to the bank’s 2021 financial statement.
Over the same period, the banking group provided loans to over 51,600 Moroccan businesses as part of the Damane Oxygen Program to support businesses in navigating pandemic-induced hardships. With a budget cover of MAD 21.5 billion ($2.2 billion), Attijariwafa Bank’s contribution to all Damane funds stands at 37%, according to the bank statement.
The same statement details that 58% of freelancers who registered in 2021, to gain official status, opted for Attijariwafa Bank.
Regarding the bank’s digital service offerings for business makers, 2.5 million people connected to the Daralmoukawil.com platform, generating 7 million interactions on the bank’s social media platforms in 2021, according to the statement.
In Addition to providing loans for Small and Medium Enterprises, Attijariwafa Bank has offered training to 40,500 very small businesses and consulting through 14,000 interviews. The banking group has equally organized prospecting B2B (Brand to Brand) meetings to mediate between Very-Small Businesses and potential clients.
Attijariwafa Bank saw a significant 53% annual growth in subscriptions to digital services, going from 161,4 million in 2020 to 257,1 million in 2021, according to the statement.
With a 25% market share, Attijariwafa Bank is Morocco’s leading banking group, with a strong presence in the national corporate market.
The bank recorded a strong recovery post-COVID-19, outperforming other Moroccan banks in the first half of 2021, according to a Fitch report.
Read Also: Fitch Ratings: Attijariwafa Bank’s Outlook Remains Stable
