Moroccan Bank Lending Surges 5.3% in March, Driven by Business and Household Loans

This is mainly the increase from 5.8% to 9.6% in loans to private non-financial companies, but also the increase in loans to households from 3.8% to 4.4% in February and those to public non-financial companies, which fell from 3.6% to 3.5%. BAM explains that "the growth in bank credit covers an acceleration from 6% to 8.2% in the growth of equipment loans and from 5% to 8% in overdraft facilities, as well as a slowdown from 3.4% to 3.2% in the growth of real estate loans and from 4.1% to 3.3% in that of consumer loans," reports leseco.ma.

According to the same indicators, "the quarterly data available show a stabilization at 5.3% of the annual growth rate of total bank credit". As for the pace of increase in loans allocated to the "trade, automotive repairs and household goods" branch, it accelerated from 5.1% to 15% and loans to the "electricity, gas and water" sector recorded an increase from 3.5% to 5.8%.

However, with regard to loans to companies in the "manufacturing industries" sector, their growth rate fell to 1.3% after 1.5% and that of the "transport and communication" sector to 2.4% after 12.1%. As for loans to companies in the "Construction and public works" sector, they fell from 1.6% to 1.5%, lesecos.ma notes that "consumer loans remained almost at their previous month’s level".