Bad debts increased by 5.4% in the first quarter of 2024 and their ratio to outstanding bank credit remained unchanged at 8.7% from one quarter to the next, according to Bank Al-Maghrib (BAM).
These claims increased by 5.3% for private non-financial companies and by 5.4% for households with respective ratios of 12.9% and 10.1%, BAM indicates in its recent quarterly report on monetary policy.
According to the same source, the latest data for April 2024 show an annual growth in bank credit of 6%, reflecting increases of 2.7% in credit to the non-financial sector and 28.1% in loans granted to other financial companies.
As for loans granted by financial companies other than banks to the non-financial sector, they increased by 5.2% in the first quarter of 2024. This development is the result in particular of improvements of 7.9% in loans granted by financing companies and 3.4% of loans granted by microcredit associations, while assistance from offshore banks decreased by 8.1%.
Concerning liquid investment aggregates, they recorded an increase of 21.3% after that of 10.2% a quarter before, reflecting accelerations in the growth rates of bond securities of Collective Investment Organizations in Transferable Securities (UCITS) from 16.8% to 34.5%, Treasury bills from 7.9% to 15.5%, and equity and diversified UCITS securities from 6.3% to 21.6%.
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