By LeSiteinfo with MAP
Outstanding bank credit stood at 1,122.5 billion dirhams (billion dirhams) during the first eleven months of 2024, up 4.1% from one year to the next, according to Bank Al-Maghrib ( BAM).
This outstanding amount is distributed among non-financial agents with 947 billion dirhams and financial agents (175.5 billion dirhams), specifies BAM in its recent “Bank Credits-Deposits” dashboard.
Credit to private non-financial companies marked, year-on-year, an increase of 1.8% covering increases of 7.9% in loans for equipment, 6.4% in those for real estate development and a decline of 1.3% of liquidity facilities.
According to the survey on credit granting conditions for the third quarter (Q3) of 2024, the criteria would have been kept unchanged for cash and equipment loans and would have been relaxed for real estate development loans .
These findings are valid for loans to very small, small and medium-sized enterprises (SMEs) as well as to large enterprises (GE).
In terms of demand, banks are reporting an increase for all credit purposes and for all sizes of companies, GE and SMEs.
The BAM economic survey indicates that access to bank financing, in Q3-2024, was considered “normal” by manufacturers. Furthermore, the cost of credit would have stagnated according to 83% of industrial companies.
In Q3-2024, the rates applied to new loans fell to 5.33%. They stood at 5.14% for GEs and 5.74% for SMEs. Concerning loans granted to households, they recorded an annual increase of 0.8%, mainly linked to the increase of 1.7% in housing loans and 1.5% in consumer loans.
Crowdfunding intended for housing, in particular in the form of real estate Murabaha, continued to grow and stood at 24.5 billion dirhams after 21.4 billion dirhams a year earlier.
In Q3-2024, banks indicate unchanged granting criteria for both home loans and consumer loans.
Regarding demand, it would have increased, both for consumer loans and for housing loans.
As for the rates applied to new loans, they appear, in Q3-2024, to be virtually stagnant overall at 5.92%, covering a decline of 3 basis points (bps) to 4.76% for loans to housing and an increase of 3 bps to 7.06% for consumer loans.
