Bank Al-Maghrib (BAM), indicated that outstanding bank credit reached 1,033.4 billion dirhams (MMDH) in January 2023, an annual increase of 7.1%.
In its “bank loans-deposits” dashboard for the month of January, BAM specifies that this outstanding amount is divided between non-financial agents with 898.9 billion dirhams (+6.8%) and financial agents 134.5 billion dirhams ( +9.2%).
The 8.4% annual increase in loans to private non-financial enterprises (NFEs) is mainly due to the 10.6% increase in cash facilities and the 5% increase in equipment loans. On the other hand, home loans fell by 5.9%.
Said scoreboard also recalls that the BAM business survey indicates that access to financing, in Q4-2022, was considered “normal” by 86% of industrial companies and “difficult” by 14% of them. .
Moreover, the cost of credit would have been stagnant according to 62% of the bosses and rising according to 38%. According to the survey on credit conditions for Q4-2022, the criteria would have been relaxed for cash facilities, kept unchanged for equipment loans and tightened for property development loans.
By company size, they would have been kept unchanged for very small, small and medium-sized enterprises (TPME) and large enterprises (GE). As for demand, it appears to have stagnated for GEs and decreased for VSMEs. By object of credit, demand appears to have decreased for cash loans, stagnated for equipment loans and increased for property development loans. In Q4-2022, the rates applied to new loans increased to 4.40%. By company size, they stood at 4.19% for LEs and 5.04% for VSMEs.
With regard to households, loans recorded an annual increase of 3.5%, mainly covering increases of 2.7% in housing loans and 3.4% in consumer loans. Crowdfunding for housing, in particular in the form of real estate Murabaha, continued to grow and stood at 19.1 billion dirhams after 16.1 billion dirhams a year earlier.
In Q4-2022, the banks declare unchanged granting criteria for consumer loans and tightened for housing loans. As for demand, it appears to have fallen both for housing loans and for consumer loans. As regards the rates applied to new loans to households, they stand, in Q4-2022, at 4.32% for housing loans and 6.40% for consumer loans.