Bank Al-Maghrib said bank lending to Morocco’s non financial sector rose 5.8 percent year on year in February, up from 5.4 percent in January, as credit to both private and public companies accelerated while household borrowing was broadly unchanged.
In its latest monetary statistics, the central bank said loans to private non financial companies grew 3.6 percent after 3.1 percent a month earlier, while lending to public non financial firms rose 6.3 percent after 5.6 percent. Household credit growth, by contrast, was almost stable at 3.4 percent.
By type of credit, the data showed the decline in cash facilities easing to 2.9 percent after 3.9 percent, while real estate loans were nearly unchanged at 3.6 percent and consumer loans at 3.9 percent. Equipment loans rose 21 percent, driven by faster growth in lending to private companies at 13.6 percent, even as the pace for public firms slowed to 18.9 percent.
Bank Al-Maghrib also said non performing loans increased 5.1 percent after 4.6 percent, pushing their ratio to total credit to 8.4 percent from 8.3 percent in January.
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