Bank Al-Maghrib said credit growth to the non-financial sector slowed to 3.4% year-on-year in July, compared with 4.4% in June, reflecting weaker financing to private companies.
Loans to private non-financial firms rose only 1.2%, while household lending accelerated to 2.9% from 2.5%. Credit to public non-financial corporations held steady at around 7.5%, according to the central bank’s latest statistical bulletin.
By type of use, treasury facilities contracted 5%, while equipment loans posted strong growth of 15.2%. Housing loans expanded 3.4% and consumer credit advanced 3.9%.
Non-performing loans (NPLs) rose at a slower pace, with growth easing from 5.7% in June to 5.4% in July. The ratio of NPLs to total credit edged up slightly to 8.7% from 8.6% a month earlier, Bank Al-Maghrib said.
The figures highlight diverging trends in Morocco’s credit market, with robust equipment financing offset by slower private sector borrowing.
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