What was just a statement of intent in early April is now a reality: Standard Chartered Bank has officially established its presence in Morocco. On April 8, Chris Egberink, the bank’s CEO for South Africa, told Bloomberg that Morocco was among the countries targeted by the British institution for its continental expansion. “As we expanded in Egypt with a full-fledged bank, we are considering one or two other countries. And Morocco is one of them,” he announced at the time.
However, the steps had already been well advanced. According to documents reviewed by TelQuel, the bank had, as early as March 17, made formal resolutions through its permanent court committee regarding the opening of a branch in the Kingdom. Named Standard Chartered Bank, Morocco Representative Office, this entity was officially registered on April 25 in the Casablanca Commercial Court registry.
The new representative office is being set up in the Casa Business Tower, at the heart of Casablanca Finance City. According to our sources, the office will serve informational, liaison, and representative functions—without engaging in direct banking activity.
The Moroccan branch will be led by a trio of executives: Moroccan Hind Hissem, Managing Director of Standard Chartered for Africa and the Middle East; Emirati Rola Abu Mannef, who oversees operations in the UAE, Middle East, and Pakistan; and Australian Gregoriou Spiros, a program manager at the bank.
According to information shared by Bloomberg, this move is part of the group’s broader strategy of streamlining and repositioning. Since April 2022, the London-based bank has been refocusing its operations, divesting from several subsidiaries in Africa and the Middle East—including in Zimbabwe, Angola, Cameroon, Gambia, Sierra Leone, Jordan, Lebanon, and Tanzania—while also seeking to exit retail banking in Botswana, Uganda, and Zambia.
Conversely, Standard Chartered has been strengthening its presence in markets deemed “more strategic.” In January, the bank opened a branch in Egypt, considered a key gateway to both Africa and the Middle East. Morocco appears to follow a similar logic. As for South Africa, Standard Chartered is maintaining a cautious approach, according to statements by Chris Egberink.
Written in French by Younes Saoury, edited in English by Eric Nielson
