Bank lending accelerated in late July

Relating to a total outstanding amount of more than DH 1,011 billion

Bank credit allocated to the non-financial sector accelerated in the seventh month of the year. At the end of July there was an increase of 4.6% after an increase of 3.9% previously observed, thus bringing the residual amount of these loans to 881.73 billion dirhams in a consolidation of 39.13 billion. dirham compared to the same period of the previous year. This is what can be seen from the latest monetary statistics from the Al Maghrib Bank. At this level, the Central Bank recorded an increase of 3.6% in loans to households after the previous 3.3%. The latter amounted to 377.34 billion dirhams, an improvement of 13.12 billion dirhams. Loans granted to private non-financial companies amounted to 435.12 billion dirhams, an increase of 7.3%, or a further residual of 29.73 billion dirhams compared to the same period of the previous year. Overall, the overall balance of bank loans strengthened in the first seven months of the year by AED 48.20 billion to reach AED 1,011.14 billion at the end of July. Its growth rate therefore shows a 5% increase on an annual basis.

For economic purposes, real estate loans recorded an increase of 2.3% in the aforementioned period, thus reaching 296.37 billion dirhams. In value, these loans were consolidated at AED 6.59 billion from the level reached a year earlier. Most of these loans are in the form of real estate loans. In this sense there are loans for about 236.48 billion dirhams, up by 2.6%. This increase translates into additional credits of almost AED 6 billion. Loans granted to property developers decreased slightly, thus amounting to 54.88 billion dirhams, or 133 million dirhams less than in the same period of the previous year. The breakdown by economic purpose of bank loans also shows an increase in cash lines of 12.2% after the previous 10.6%. In this sense they amount to 254.72 billion dirhams, with an improvement of 27.33 billion dirhams. As for equipment loans, the decline was mitigated by 2.1% after the previous -2.5%. The prices contracted in this direction amounted to 173.24 billion dirhams, down from 4.17 billion dirhams.

Consumer loans appreciate by AED 1.57 billion, thus rising to AED 57.24 billion. Their growth rate is estimated at + 2.8% at the end of July. As regards outstanding debts, they amounted to 88.85 billion dirhams, an increase of 5.35 billion dirhams. Their annual growth rate went from 4.8% in June to 6.4% in July and their credit ratio reached 8.8%. It should be noted that at the end of July 69.27 billion dirhams of loans were allocated to the public sector, down 5.1%, or 3.72 billion dirhams less than in the same period last year. Of this residual amount, local governments contracted Dh 25.05 billion, thus marking an increase of 3.2%. Loans granted to public non-financial companies reached 44.21 billion dirhams, down 9.2%.

Fund-raising

Almost 22 billion dirhams contracted

At the level of banks and holding windows, their balance sheets show a surplus of about 25.79 billion dirhams, up 28.9% compared to the same period of the previous year. It has thus consolidated by 3.1 billion dirhams year over year. Crowdfunding thus stood at 21.8 billion dirhams, with an improvement of 26.7%, or a further residual amount of 4.58 billion dirhams compared to the same period of the previous year. Of this total, real estate crowdfunding represents a total of 18.11 billion dirhams. This residual amount shows an increase of 23% over the same period of the previous year, or an additional residual amount of 3.33 billion dirhams. Consumer crowdfunding is also on the rise. It strengthened by 10.4%, rising to 1.2 billion dirhams. Crowdfunding for equipment revolves around an exceptional amount of 2.24 billion dirhams, up 78.6% compared to loans taken in the same period last year. A spike of 348.2% was observed in cash crowdfunding. Their debt amounts to 99 billion dirhams.
As for the sukuk certificates, they maintain their bearish pace. At the end of July they contracted by 49.3%, thus returning to 121 million dirhams. As for receivables from deposit institutions, in the first seven months of the year they reached 1.88 billion dirhams, thus recording an increase of 38.5%. They consist of 1.32 billion dirhams of deposits with Bank Al Maghrib (+ 42.9%) and 220 million dirhams of deposits with banks (+ 82.4%). Receivables from the central administration amounted to 169 million dirhams, up 8.3%. As regards fixed assets, at the end of July they recorded a decrease of 21.1%, thus reaching 553 million dirhams, of which 167 million dirhams of fixed assets acquired in the context of crowdfunding.

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