Morocco’s Bank Lending Surges 5.3% to 918 Billion Dirhams in March

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.