Kiosk360. The first half of 2022 saw a 3.6% increase in bank loans granted to households, i.e. more than 376 billion DH. This article is a press review of the newspaper Today Le Maroc.
Loans granted to households show a marked acceleration in the first half of 2022, reports Today Morocco in its Friday edition. The daily, which returns to the latest statistical bulletin from Bank Al-Maghrib, indicates an increase of 3.6% once morest 3.3% previously. “The outstanding amount stands in this direction around 376.28 billion dirhams (MMDH), in consolidation of 12.9 billion dirhams. This confirms the sustained development of household debt, following a drop observed in 2020. In 2021, overall household debt reached 386 billion dirhams, including 13.3 billion dirhams from crowdfunding,” the newspaper details.
It should be noted that this outstanding is up by 4.8% once morest 2.7% in 2020 and that housing loans, for their part, represent 65% of household debt in 2021. We learn that the outstanding real estate loans reached 297.46 billion dirhams in the first half of 2022, up 2.1%, i.e. an additional outstanding amount of 6.21 billion dirhams compared to the first six months of 2021.
“Housing loans posted an outstanding amount of 236.41 billion dirhams at the end of June 2021, up 2.5%, or 5.72 billion dirhams more than a year earlier. As for crowdfunding, for the first six months of 2022 it stands at around 17.43 billion dirhams, an improvement of 3.39 billion dirhams, i.e. a variation of 24.1% compared to the first six months of 2021. “says the BAM report.
It should be recalled that 92% of the overall outstanding amount of housing loans distributed in 2021 was at a fixed interest rate. “Bank Al-Maghrib had underlined in its report that the maturity period of this type of credit has lengthened more and more over the past few years, including 50% of loans with a duration greater than or equal to 20 years, something which increases the borrowing capacity of the beneficiaries. Consumer loans are the second reason for household debt. These loans represented 35% of overall household debt in 2021”, we also note.
Today Morocco also adds that for the first half of 2022, outstanding consumer loans reached 57.19 billion dirhams at the end of June, up 3.2%. “According to Bank Al-Maghrib’s annual survey of household loans, personal loans represent 70% of loans granted. Car loans come in second place with a share of 14% once morest 11% for household equipment loans and 4% for cards. With regard to the repayment period, Bank Al-Maghrib has noted an extension in recent years”, adds the same source. Note also that the indebtedness of residents amounted to 366 billion dirhams, up 4.7% once morest 3.2% in 2020.
