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These financings are distributed in particular on real estate (16.78 billion dirhams), consumption (1.17 billion dirhams), equipment (1.77 billion dirhams) and cash (85 million dirhams), specifies BAM in a document on monetary statistics for February 2022.

At the same time, the commitments of the participating banks reached nearly 6.8 billion dirhams with the banks, mainly in the form of refinancing through the product of “Wakala bil Istithmar” and sight deposits received from the parent banks, said the same source.

Checking accounts and current accounts rose by 33.6% to 5.49 billion dirhams, while investment deposits rose to more than 1.58 billion dirhams.

Chariot, a British energy-focused company, announced the update of the initial estimates for the gas reservoir located in the Moroccan offshore gas well Anchovies-2 located at Larache.

Following further analysis of the data, Chariot said in a statement that the reservoir gas assessment Anchovies-2 has been increased from 100 m to 150 m, compared to 55 m estimated when the well was first discovered Anchovies-1.

The energy company further announced that tests carried out on these field wells revealed that methane gas would be present at more than 96% in the seven reservoirs, “without harmful impurities such as H₂S where the CO₂ “, allowing “minimal treatment” of the gas required in the development, which makes the process of development of the gas ofAnchovies-2 fast and cost effective.

In this sense, the British company Chariot Oil & Gas pointed out that research is ongoing before reaching the development process, noting that processing the gas in its current composition will not require a lot of investment, as it might be carried out from d’« a single gas treatment facility”.

gas wells Anchovies-1and Anchovies-2 fall under offshore drilling license Lixus. Under this license, Chariot owns 74% interests in the gas reservoir, while the Office National des Hydrocarbures et des Mines (ONHYM )holds 25% interests.

Adonis Pouroulis interim CEO of Chariot, has this « ravi to announce this very positive update on the analysis of well data obtained from our successful gas drilling campaign on the Anchois project”.

In this direction, Andonis Pouroulisadds that: « ourambition is to bring anchovy gas development online quickly, to fuel Morocco’s economic growth, but also to provide short-term cash flow to our shareholders. We will continue to work on an accelerated development plan for the land, to the benefit of all stakeholders.”

Alongside the development plans for the Anchois gas field, the group aims, according to Pouroulisto maximize the value of the benefits of exploration in what he calls a low-risk, high-value opportunity.

The energy-focused British oil giant is counting on gas as a “bridge” fuel on its way to a greener future. The company has several green projects underway, including a green hydrogen project in Mauritania. The company is expected to close the deal in 2022.

Organized under the theme “Together for a balanced and stable market”, this meeting was devoted to strengthening the mechanisms for coordinating and monitoring the situation of market supply on the occasion of the blessed month of Ramadan.

In this respect, the president of the Chamber of Commerce, Industry and Services of Casablanca-Settat, Hassane Berkani, underlined that the objective of this meeting is to reassure traders, the media and consumers of the availability of all the products and to inform them of the efforts made by all the players to guarantee the supply of the markets. He took this opportunity to call on consumers to change their way of consumption in order to avoid the waste of food products and to block the way to speculation caused by unscrupulous intermediaries who profit from such events.

Berkani also noted that the Chamber had meetings with all the stakeholders, in particular the Wali and the governors of the region, as well as the external services of all the departments concerned to set up a monitoring and control commission.

According to him, the mission of this commission will be to control, on the one hand, the prices of products heavily consumed by households during the holy month, and, on the other hand, to ensure the quality of these products through unannounced visits to warehouses.

For their part, the professionals involved affirmed that they are hard at work and ready to supply the markets in abundance during the month of Ramadan on a permanent and regular basis, particularly with regard to local national products.

With regard to prices, the significant increase in the prices of certain basic products in recent months is explained by fluctuations in world markets, they said, noting that in parallel, the prices of other basic products remained generally at their usual levels, with some variations relating to supply and demand, but without registering any increase for regulated products. And to recall that in the current climatic conditions, all precautions have been taken by the government to supply the markets and ensure that prices are suitable, while working to combat all forms of speculation, as well as to protection of citizens’ purchasing power and consumer health and safety.

Outstanding bank credit stood at 962.9 billion dirhams at the end of February 2023, an annual increase of 3.3%, indicates Bank Al-Maghrib.

In its recently published bank credit-deposit scoreboard, BAM points out that the annual increase of 3.8% in credits to private NFEs (Non-Financial Enterprises) covers increases of 6.7% in cash facilities and 3 % of equipment loans as well as a 4.8% decline in real estate loans.

Citing its business survey, BAM recalls that access to financing, in the 4th quarter of 2021, was considered normal by 90% of industrial companies, with a stagnating cost of credit.

According to the results of the survey on the conditions for granting credit for the 4th quarter of 2021, the criteria would have been relaxed for cash loans, kept unchanged for those for equipment and tightened for loans for real estate development. .

By size, the criteria would have been kept unchanged for both VSMEs and LEs.

As for demand, it would have experienced an increase both for VSMEs and for GEs and for all credit items.

Bank Al-Maghrib also informs that the rates applied to new loans rose, in the 4th quarter of 2021, from one quarter to another, by 10 bps to 4.30%.

By company size, they increased by 18 bps to 4.01% for GE (large companies) and fell by 10 bps to 4.88% for VSMEs.

Crowdfunding for housing

Furthermore, loans to households recorded an annual increase of 3.7%, essentially reflecting a 4.3% increase in housing loans.

Ditto for crowdfunding for housing, in particular in the form of real estate Murabaha, which continued to grow and was Murabaha following 12 billion dirhams a year earlier.
In addition, the BAM scoreboard shows that the banks declare unchanged granting criteria for both housing loans and consumer loans.

As for demand, it would have progressed both for consumer loans and for those for housing.

As for the rates applied to new loans to households, in the 4th quarter of 2021 they stagnated at 4.24% for housing loans and fell by 4 bps to 6.47% for those for consumption.

Remuneration of term deposits

Also according to the central bank’s dashboard, deposits with banks recorded, at the end of February 2022, an annual increase of 5.5% to stand at 1,050.2 billion dirhams.

Household deposits stood at 779.7 billion dirhams, an annual increase of 2.7% with 186.9 billion dirhams held by MREs.

Deposits from private companies, for their part, increased by 11.7% to reach 166.4 billion dirhams at the end of February.

BAM also notes that the remuneration rates for 6-month term deposits recorded, at the end of February 2022, an increase of 10 basis points to stand at 2.12% while those at 12 months fell by 26 points. basis to reach 2.36%.

For savings accounts, their minimum rate of return was set at 1.05% for the first half of 2022, an increase of 2 basis points compared to the previous half.