2023-05-13 20:12:22
DIn detail, the outstanding amount of credit to non-financial agents stood at 894.6 billion dirhams and that to financial agents at 143.5 billion dirhams, specifies BAM in its dashboard “credits and bank deposits” for the month of March.
The 4.9% annual increase in loans to private non-financial enterprises (NFEs) is mainly due to the 5.3% rise in cash facilities and the 4.2% increase in equipment loans. On the other hand, home loans fell by 5.8%, the same source said.
The BAM business survey indicates that access to financing, in Q1-2023, was considered “normal” by almost all manufacturers in all branches with the exception of “textiles and leather” where 21% companies describe it as “difficult”. Furthermore, the cost of credit was stagnating according to 65% of companies and rising according to 34% of them.
According to the survey on credit conditions for Q4-2022, the criteria would have been relaxed for cash facilities, kept unchanged for equipment loans and tightened for property development loans.
By business size, they would have been kept unchanged for very small, small and medium-sized enterprises (TPME) and large enterprises (GE). 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 Q1-2023, the rates applied to new loans increased to 5.03%, underlines the same source, noting that by company size, they stood at 4.79% for GEs and 5.48% for SMEs.
Moreover, assistance to households recorded an annual increase of 3.6%, mainly covering increases of 2.6% in housing loans and 2.7% in consumer loans.
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.
In Q4-2022, banks report 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.
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