Bank credit growth in Morocco’s non-financial sector (NFS) accelerated to 3.1% in August, up from 2.8%, according to a recent report from Bank Al-Maghrib (BAM).
The increase reflects a rebound in lending activity, particularly among private non-financial companies, where loan growth surged from 1.8% to 2.9%.
Meanwhile, household lending showed a decline, with growth slipping from 1% to 0.8%. Public, non-financial companies also faced a significant contraction in financing, as loan growth plummeted from 12.2% to 9.1%.
Examining the data by economic category, the year-on-year change in bank financing reveals a robust increase in cash facilities, which rose to 3.9%, and a notable rise in equipment loans, which increased to 6%.
Mortgage and consumer loan growth remained subdued, at 1.6% and 0.8%, respectively.
Concerns are also emerging in the sector, with non-performing loans (NPLs)—those in default or nearing default—having increased by 3.4%, elevating their ratio to total credit to 8.8%.