Bank credit posted year-on-year growth of 4.1% in January, after + 4.5% in December 2020, according to Bank Al-Maghrib (BAM).
Lending to the non-financial sector, on the other hand, posted year-on-year growth of 4.9% in January 2021, after 3.9% a month earlier.
This change mainly covers the acceleration from 4.7% to 7.5% in the growth of loans to private non-financial corporations and the slowdown from 3.4% to 3.2% in the growth of loans to households, says BAM. in a note on its key indicators of monetary statistics for January 2021.
The breakdown by economic object of loans allocated to the non-financial sector shows an increase of 14.4% in January after 10.2% a month earlier in liquidity facilities, an attenuation of the decline in equipment loans by 3 % to 2.6% and those for consumption from 4.2% to 3.6% and a deceleration in the growth of real estate loans from 2.5% to 2.3%.
With regard to bad debts, their annual growth rate was established at 15.3% in January 2021 after 14.4% in December 2020.
Under these conditions, the rate of bad debts stood at 8.7% after 8.4%. On a monthly basis, bank credit to the non-financial sector declined slightly by 0.1%, with a decline in loans to property development and equipment and an increase in housing and consumer loans, notes the Central Bank.