Here are the 5 key highlights from Bank Al-Maghrib’s june 2024 “credit-deposits” dashboard:

  1. Bank credit growth: By the end of June 2024, total bank credit in Morocco reached 1,110.5 billion dirhams (MMDH), marking a 3.2% increase compared to the same period last year. This indicates a healthy expansion in lending activities across the country.
  2. Credit to financial and non-Financial agents: The credit extended to non-financial agents rose by 1.2%, amounting to 928 MMDH. Meanwhile, credit to financial agents experienced a significant surge of 14.3%, reaching 182.5 MMDH, reflecting robust activity in the financial sector.
  3. Bank deposits on the rise: Bank deposits in Morocco totaled 1,194.6 MMDH by June 2024, showing a 5.6% annual increase. This growth signals strong confidence among depositors in the Moroccan banking system.
  4. Household and private company deposits: Household deposits climbed to 887.7 MMDH, up 5.4% year-on-year, with 207.1 MMDH held by Moroccans residing abroad (MRE). Deposits from private companies also saw significant growth, rising by 7.7% to reach 203.9 MMDH by the end of June.
  5. Growth in participatory housing finance: Participatory financing for housing, especially through “Mourabaha immobilière,” continued its upward trend, reaching 23.1 MMDH in June 2024, compared to 20.3 MMDH the previous year. This underscores the growing appeal of alternative financing models for real estate purchases.

RELATED ARTICLESMORE FROM AUTHOR