Bank Al-Maghrib reported that the current amount of bank loans amounted to 1,122.5 billion dirhams during the first eleven months of 2024, an increase of 4.1 percent from year to year.
The bank explained, in its latest dashboard related to “bank loans and deposits” issued by it, that this amount is distributed between non-financial agents at 947 billion dirhams and financial agents (175.5 billion dirhams).
Bank loans directed to private non-financial enterprises recorded an annual increase of 1.8 percent, mainly related to the growth of equipment loans by 7.9 percent, real estate recovery loans by 6.4 percent, and a decline in treasury facilities by 1.3 percent.
According to the survey on the conditions for granting loans in the third quarter of 2024, conditions may remain unchanged for treasury loans and equipment loans, and may ease for real estate recovery loans.
These conclusions apply to loans directed to very small, small and medium enterprises, as well as to those allocated to large enterprises.
Regarding demand, banks reported an increase in all loan categories for all companies of all sizes, from large companies, very small companies, and small and medium companies.
The Bank of Morocco’s situational survey highlighted that access to bank financing, in the third quarter of 2024, was considered “normal” for industrialists. On the other hand, the cost of loans may have stabilized according to 83 percent of industrial enterprises.
-During the third quarter of 2024, interest rates applied to new loans fell by 5.33 percent. It reached 5.14 percent for large enterprises, and 5.74 percent for very small, small and medium enterprises.
With regard to loans directed to families, they recorded an annual increase of 0.8 percent, mainly reflecting a growth of 1.7 percent in housing loans and 1.5 percent in consumer loans.
Participatory financing directed to housing, in the form of real estate Murabaha in particular, continued to grow to reach 24.5 billion dirhams, after 21.4 billion dirhams a year ago.
The banks indicated that during the third quarter of 2024, the grant conditions remained unchanged for both housing loans and consumer loans.
As for demand, it witnessed an increase in the level of consumer loans and housing loans.
For its part, the interest rates applied to new loans during the third quarter of 2024 recorded almost stagnation in general, at 5.92 percent, including a decline of 3 basis points to 4.76 percent for housing loans and an increase of 3 basis points to 7.06 percent. For consumer loans.
