2023-06-30 16:10:00
This increase is due to a relatively weak growth in housing loans, which increased by 2.5% to 241.3 billion dirhams, offset by a 7.4% drop in loans to property developers, indicates Bank Al-Maghrib. Crowdfunding (Halal), meanwhile, showed a strong increase of 17.1%, totaling 20 billion DH, or 8.3% of all housing loans.
To read: Real estate loans should improve thanks to MREs
In addition, total outstanding bank credit amounted to 1,049 billion dirhams at the end of May, an increase of 6.5% or 64.2 billion compared to the same period of 2022, according to the latest central bank monetary statistics. This increase was mainly driven by loans granted to other financial institutions, which surged by 23% or 30.6 billion dirhams, as well as by cash loans and equipment loans.
Overdue debts held by banks have, for their part, increased almost at the same rate as the total outstanding loans, with an increase of 6.3% or 5.5 billion DH, reaching 93 billion, with a rate arrears of 8.8%.
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