Morocco: Increase in bank credit in September

Bank credit posted year-on-year growth of 5.2% in September, after + 4.9% in August, according to Bank Al-Maghrib (BAM).

With regard to credit to the non-financial sector, it increased by 5.3% in September, after 5.7% a month earlier, notes BAM in a note on its key indicators of monetary statistics for September 2020.

The evolution of credit to the non-financial sector reflects an increase in loans to private non-financial corporations of 7.6% after 8.6% and an increase in loans to households of 2.5%, almost the same evolution as the month previous.

By economic object, cash loans allocated to the non-financial sector increased by 9.7% against 12.3% and those to equipment by 3.4% after 3%.

As regards real estate loans, they increased by 1.6%, the same annual increase as the previous month. Consumer loans, on the other hand, fell by 2.1%.

On a monthly basis, bank credit recorded an increase of 1%. This change covers an increase in mortgage and consumer loans respectively of 0.3% and 0.2%, as well as a decrease of 0.3% in both liquidity facilities and equipment loans.

(With MAP)

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