Economy

Outstanding bank credit stood at 1,078.7 billion dirhams (billion dirhams) at the end of November 2023, up 5.3% compared to the same period a year earlier, according to the dashboard. credits – bank deposits” from Bank Al-Maghrib (BAM).

In detail, outstanding credit to non-financial agents increased by 2.8% to MAD 923.6 billion and that of credit to financial agents by 22.3% to MAD 155.1 billion, specifies BAM.

The 0.1% annual drop in credit to private NFEs is mainly explained by the 9.4% decline in liquidity facilities. On the other hand, equipment loans increased by 5.4%.

In addition, the BAM economic survey indicates that access to financing, in Q3-2023, was considered “normal” by 80% of industrialists and “difficult” by 19%, with the cost of credit stagnating for 68% of firms and increasing according to 27%.

In Q3-2023, the rates applied to new loans increased to 5.36%. By company size, they stood at 5.05% for large companies (GE) and 5.75% for very small, small and medium-sized enterprises (SMEs).

Household loans recorded an annual increase of 1.8%, covering a 2% increase in home loans and a 0.1% decline in consumer loans.

Crowdfunding intended for housing, in particular in the form of real estate Murabaha, continued to grow and stood at 21.4 billion dirhams following 18.7 billion dirhams a year earlier.

As for the rates applied to new loans, they were, in Q3-2023, generally up to 5.95%, with an increase to 4.74% for home loans and a drop to 7.25 % for those for consumption.

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