Morocco's Bank Lending Surges 5.3% to 918 Billion Dirhams in March
Bank loans recorded a 5.3% increase at the end of March, compared to a 4.2% increase the previous month, for a total amount of 918.48 billion dirhams.
The balance of bank loans stands at 918.48 billion dirhams at the end of March 2020. This emerges from the monetary statistics of Bank Al-Maghrib, for an increase of 5.3% compared to last month. BAM thus noted a consolidation of 8.5 billion dirhams.
The central bank notes a growth in bank credit that covers an acceleration in the progression of equipment loans and cash facilities, as well as a slowdown in the growth of real estate loans and consumer loans. However, a slight slowdown is recorded in the pace of growth of real estate loans compared to the month of February. Real estate loans show a progression of 3.2% against 3.4% for the previous month.
Consumer loans, like real estate loans, are declining. They show a balance of 3.3% in March, compared to a progression of 4.1% in February 2020, i.e. an additional outstanding amount of 1.8 billion dirhams compared to March 2019. BAM indicated that by institutional sector, the evolution of bank credit to private non-financial companies reveals an increase of 9.6% against 5.8%. It adds that "loans to households have increased from 3.8% to 4.4% in February. As for loans to public non-financial companies, they recorded a decline from 3.6% to 3.5%". At the end of March, the outstanding amount of the non-financial sector stands at 796.64 billion dirhams.
