Societe Generale’s formula for becoming the bank of tomorrow

Dedicated business centers have been set up with a team of expert bank advisors. Ph. Sradni

A new “Jossour 25” strategic plan for Societe Generale Morocco. In this broad-spectrum project, for which the group is agreeing to an investment of 3 billion dirhams, the optimization of resources and the networking of the network will be accompanied by a strong digitization of banking services and local support for clients. Societe Generale also intends to convert, within 4 years, 75% of its network into relational agencies.

Societe Generale Morocco wants to become the bank of tomorrow. The “Avenir 19-21” plan launched in 2018 having come to an end, the new strategic plan “Jossour 25” takes over to allow the bank to reach a new level of development. Planned for 2025 for an investment of 3 billion dirhams, the bank’s new strategic orientations attempt to combine innovation with operational excellence. Above all, it wants to capitalize on post-crisis lessons in order to optimize its human resources and infrastructure. An area where digitization takes the lion’s share, to the detriment of investments dedicated to expanding the bank’s physical network: “The notion of the branch is becoming a less strategic area than before, in the sense that a a large part of the transactions are done remotely (…). But that does not mean that we do not open new branches, but we do so when we feel that there are places where we are not sufficiently present. We are in the process of reviewing all this meshing,” said Ahmed El Yacoubi, Chairman of the Societe Generale Morocco Management Board, during a press conference held on June 14.

For him, the most important thing for the bank is the number of bankers serving its customers. This is why it will convert, within 4 years, 75% of its network into relational agencies. “The real issue is how to gradually free up time for our customers and devote it to creating value for them, to better understanding their expectations, by providing them with better service”, maintains El Yacoubi. In any case, in its internal surveys, improving customer service and its application is one of the most popular expectations with customers. “It should also be remembered that we have fewer and fewer customers who visit agencies”. The strategic directions of “Jossour 25” also go in the direction of grouping agencies and optimizing the network. Assigned objective: bring professional expertise to the client. “For example, an agency which had few professional clients can be grouped with an agency which has more in order to reach a portfolio of a critical size”, details the management of the bank whose NBI reached for the first time 5 billion DH in 2021.

SoGé Ado at the service of financial inclusion

In addition, the launch of SoGé Ado, the first aimed at young people aged 12 to 18 and their parents, seems to confirm the bank’s ambitions in the field of financial inclusion. The SoGé Ado offer thus makes available to this segment of young people, under the supervision of their parents, a complete value proposition of fluid and simple banking and extra-banking services, to assist them on a daily basis in the management of their budget and the development of their financial autonomy.

Al Maghribia Tafakul: only a few days left before the launch

Even for its participatory window “Dar Al Amane” which has 14 branches throughout the Kingdom, Societe Generale Morocco is counting on digitalization. Third in the market in terms of parts, “this success story” is being promoted and developed at the level of functionality. In terms of the network, Societe Generale Morocco aims to increase to 50 branches by 2025. For Takaful insurance, its latest addition, Al Maghribia Takaful, is already on track. “The launch is scheduled for a few days. All the conditions are met: the offer, the tools, the teams, the approval of Acaps and the approval of the regulator for distribution. All that is missing is the publication of the party. We will surely start next week,” announced Taoufik Lachker Hidara, CEO of La Marocaine Vie.


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