Banks: deposits up 5.1% at the end of November

Deposits with banks recorded, at the end of November 2022, an annual increase of 5.1% to stand at 1.099 billion dirhams (MMDH).

Household deposits stood at 811.8 billion dirhams, an annual increase of 5.5% with 195.6 billion dirhams held by Moroccans residing abroad (MRE), specifies Bank Al-Maghrib (BAM).

Deposits from private companies, for their part, increased by 9.8% to reach 182.2 billion dirhams at the end of November.

Remuneration rates on 6-month term deposits increased monthly by 33 basis points to 2.41% and that of 12 months increased by 22 basis points to settle at 2.63%.

For savings accounts, their minimum rate of return was set at 1.51% for the first half of 2023, an increase of 19 basis points compared to the previous half.