Bank Al-Maghrib (BAM) has published its “bank credit-deposits” scoreboard for April 2022, revealing outstanding bank credit amounting to MAD 980.7 billion in the first four months of 2022, an annual increase of 3.2%.
This is the sum of outstanding bank credit to non-financial agents, which amounted to MAD 854.3 billion, and that to financial agents to MAD 126.4 billion.
The 5.6% annual increase in loans to private non-financial companies (NFCs) covers increases of 10.2% in cash facilities and 2.2% in equipment loans, as well as a 2.7% decline in real estate loans.
Household loans rose 3.4% annually, mainly reflecting a 3.2% increase in home loans.
Participatory financing for housing, particularly in the form of real estate Murabaha, continued to grow and reached MAD 16.9 billion, after MAD 12.8 billion a year earlier.
As for deposits with banks, BAM recorded an annual increase of 6.5% at the end of April 2022, while households contribution rose 3.7% annually, and those of private companies rose 11.5%.
Finally, interest rates on 12-month time deposits rose by 15 points to 2.62% at the end of April 2022 and those on 6-month time deposits fell by 12 points to 2.04%.
For savings accounts, the minimum rate of return was set at 1.05% for the first half of 2022, an increase of 2 points over the previous six months.
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