Bank credit in Morocco has climbed to 1.096.9 billion dirhams (MMDH) by the end of May 2024, reflecting an annual increase of 4.6%, as reported by Bank Al-Maghrib (BAM).
For private non-financial companies, however, bank credit saw an annual decline of 1.2%, primarily due to a 6.4% decrease in cash facilities, according to BAM’s “Credits and Bank Deposits” dashboard.
In contrast, equipment loans have grown by 5.4%, while real estate development loans have remained steady compared to 2023.
BAM’s economic survey for the first quarter of 2024 shows that 66% of industrialists deemed access to bank financing as “normal,” while 30% found it “difficult.”
Additionally, 70% of businesses reported that the cost of credit was stagnant, whereas 28% observed an increase.
On the household front, loans have seen an annual rise of 0.9%, driven mainly by a 1.5% increase in housing loans and a 0.9% rise in consumer credit.
These developments indicate a nuanced financial landscape in Morocco, with notable growth in equipment loans and household credit, despite challenges in cash facilities for private non-financial companies.
