Moroccan Household Financial Assets Grow 5.3% to 833 Billion Dirhams in 2019

In a report published jointly with the Insurance and Social Welfare Control Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC), Bank Al-Maghrib noted that this increase covers a recovery in the growth of bank deposits and a more important orientation of households towards life insurance investments, in contrast to investments in securities.

Regarding the financial assets of households, the structure remains almost stable. Their deposits with banks represent 82.4%, against an increase of 0.6% in the share of their assets in the form of life insurance. They stood at 10.4%. As for the share of investments in securities, it stands at 7.2%.

Regarding household deposits with banks, they experienced a 4.3% increase in 2019 after 3.7% in 2018 and 6.0% in 2017, totaling 686.3 billion DH. While residents hold a 73% share and their deposits have increased by 5.2%, a very limited increase of 0.9% was recorded among Moroccans residing abroad, thus reaching nearly 185 billion DH.

As for foreign currency deposits of resident individuals, they increased by 2.8%, after 0.6% in 2018; however, their share in the total deposits of resident individuals is limited to 1%. According to the same report, this development reflects an increase in both sight deposits of 4.9% to 414.4 billion DH, and savings accounts of 4.7% to 163.4 billion DH. As for term deposits, they reach nearly 100 billion DH in 2019 and have experienced a year-on-year increase of 2 billion DH (2.4%).