Bank Loans Increased by 4.8 % in Morocco

  • Rabat, Kingdom of Morocco
  • 29 July 2020

The Central Bank of Morocco revealed a rise in bank loans to the non-financial sector by 4.8 percent over the past year, due to the acceleration of loans granted to enterprises by 5.6 percent, disclosing the growth of non-performing loans to reach 70 billion dirhams (7 billion dollars), raising the percentage of default to 7.5 percent.

The total value of loans granted by microcredit societies was 7.5 billion dirhams (750 million dollars), an increase of 9.4 percent, while the average total loans increased by 8.6 percent to more than 8 thousand dirhams (800 dollars).

On the other hand, customer deposits increased partially by 2.9 percent, while the number of bank accounts increased by 5 percent to more than 28 million bank accounts during the past year, where the distribution of people to bank accounts by age groups indicates that 28 percent of them range between 16 and 25 years old, while the ratio is 68 percent for people between the ages of 26 and 60. Regarding the number of bank cards, the issuance rate increased by 7.3 percent to 16.2 million cards last year.

Source (Al-Sharq Al-Awsat newspaper, Edited)

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