Borrowing is getting slightly more affordable in Morocco in 2025. According to the latest data from the Financial Studies and Forecasting Directorate, lending rates continued to drop during the second quarter of the year, with the overall average rate falling by 14 basis points to 4.84%.
Both businesses and individuals are benefiting from this downward trend. Equipment loans have seen a notable decrease of 32 basis points, now standing at 4.83%. Consumer loans also dropped by 25 basis points to reach 6.88%. Treasury loans are now at 4.65%, while mortgage rates edged down slightly to 5.13%.
This shift is taking place in a context of stable banking liquidity. In July, Moroccan banks maintained an average weekly liquidity need of 113 billion dirhams, virtually unchanged from the previous month. To meet that demand, Bank Al-Maghrib injected 128.8 billion dirhams, mainly through seven-day advances, repurchase agreements, and support programs for small and medium-sized enterprises.
Meanwhile, the interbank market remains steady. The average daily transaction volume dipped slightly to 4.3 billion dirhams, while the interbank rate held firm at 2.25%, in line with the central bank’s benchmark rate.
Overall, financing conditions in Morocco continue to ease, making it easier for both households and companies to access credit, even as the broader economic environment remains marked by lingering uncertainties.
