a "very sharp" drop in bank loans in 2021

Non-financial corporations (SNF) marked a “very sharp” drop in bank loans in 2021, according to an information note from the High Commission for Planning (HCP) relating to the national accounts of the institutional sectors.

The net flow of loans granted to NFCs thus recorded 1.2 billion dirhams (MMDH) in 2021, against 7.4 billion dirhams in 2020, thus representing 2% and 18% of their commitments, successively for 2021 and 2020, says the same source.

Regarding financial companies (SF), they still maintain their significant participation in financing the economy, according to the note. Indeed, the net flow of loans granted by this sector reached 34.2 billion dirhams in 2021 against 38.2 billion dirhams in 2020.

At the same time, deposits with these establishments posted a net flow of 102.5 billion dirhams in 2021 against 125.2 billion dirhams a year earlier.

Moreover, said note indicates that public administrations, to cover their financing needs, generally resort to indebtedness (domestic and external).

In this context, public treasury issues in the domestic market marked a slight increase, thus posting a net flow of around 48.6 billion dirhams in 2021 against 47.2 billion dirhams in 2020.

On the other hand, the external debt of this sector fell sharply, recording a net flow of 8.1 billion dirhams in 2021.

At this level, the net flow of negotiable debt securities issued internationally, which was positive by 23.3 billion dirhams in 2020, became negative by 2.1 billion dirhams in 2021.

Household debt (including individual entrepreneurs) with banks has, for its part, marked a remarkable increase, rising from 14.8 billion dirhams in 2020 to 20.4 billion dirhams in 2021.

On the other hand, deposits recorded a massive drop, posting a net flow of 38.9 billion dirhams in 2021 against 101.1 billion dirhams in 2020, which represents 63.3% and 96.5% of their assets respectively.

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