2023-05-12 22:36:56
The annual increase of 4.9% in loans to NFEs (private non-financial enterprises) mainly covers increases of 5.3% in cash facilities and 4.2% in equipment loans, as well as a decrease of 5 8% of home loans, specifies the same source.
Quoting its business survey, BAM also indicates that access to financing, in the 1st quarter of 2023, was considered “normal” by almost all manufacturers in all branches with the exception of “textile and leather” where 21 % of companies describe it as “difficult”.
Moreover, continues the same source, the cost of credit would have been stagnant according to 65% of companies and rising according to 34% of them.
In this sense, BAM recalls that the credit granting criteria for Q4-2022 would have been relaxed for cash facilities, kept unchanged for equipment loans and tightened for real estate development loans. By company size, they would have been kept unchanged for VSMEs (Very Small and Medium Enterprises) and GEs (Large Enterprises).
As for demand, it appears to have stagnated for GEs and decreased for VSMEs. By object of credit, demand appears to have decreased for cash loans, stagnated for equipment loans and increased for property development loans.
In the 1st quarter of 2023, the rates applied to new loans rose to 5.03%. By company size, they stood at 4.79% for LEs and 5.48% for VSMEs.
Increase in loans allocated to housing and consumption
Also according to BAM’s “Dashboard”, loans to households recorded an annual increase of 3.6% to 382 billion dirhams, mainly covering increases of 2.6% in housing loans ( 240.6 billion dirhams) and 2.7% of consumer loans (57.4 billion dirhams).
Crowdfunding for housing, in particular in the form of real estate Murabaha, continued to grow and stood at 19.6 billion dirhams following 16.7 billion dirhams a year earlier.
BAM recalls, in this wake, that the banks declare, in the 4th quarter of 2022, unchanged granting criteria for consumer loans and tightened for housing loans. As for demand, it appears to have fallen both for housing loans and for consumer loans. As for the rates applied to new loans to households, they stand, in Q1-2023, at 4.36% for housing loans and 6.95% for consumer loans.
MAD 201 billion held by MREs with banks
The BAM dashboard also shows that deposits with banks amounted to 1,127.5 billion dirhams, recording an annual increase of 5.2%. In detail, household deposits stood at 835.5 billion dirhams, an annual increase of 6.5% with 201 billion dirhams held by MREs. Deposits from private companies, for their part, increased by 10.9% to reach 190.7 billion dirhams at the end of March.
The interest rate on 6-month term deposits increased annually by 11 basis points to 2.49% while that of 12-month deposits fell by 4 basis points to 2.58% , indicates Bank AL-Maghrib. For savings accounts, their minimum rate of remuneration was set at 1.51% for the first half of 2023, an increase of 19 basis points compared to the previous half, underlines the same source.
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