Economy

Bank financing for the non-financial sector jumped to 3.1% in August, marking a notable increase.

By chantar 1 Min Read

  • Bank credit growth in Morocco’s non-financial sector (NFS) saw an uptick, reaching 3.1% in August, compared to 2.8% previously.

  • This growth is largely attributed to increased lending activity among private non-financial companies, which experienced a rise in loan growth from 1.8% to 2.9%.

  • Conversely, households faced a decline in lending, with growth decreasing from 1% to 0.8%. Public non-financial companies also struggled, as their loan growth dropped from 12.2% to 9.1%.

  • An analysis of the data by economic category highlighted a strong rise in cash facilities, now at 3.9%, along with a significant increase in equipment loans, which climbed to 6%.

  • Growth in mortgage and consumer loans remained low, recorded at 1.6% and 0.8%, respectively.

  • There are rising concerns in the sector due to an increase in non-performing loans (NPLs), which grew by 3.4%, raising their ratio to total credit to 8.8%.

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