Increase in bank credit to 3.7% in July 2019 (BAM)

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Bank lending to the financial sector increased 3.7 percent year-on-year in July 2019 from 3.6 percent a month earlier, says Bank Al-Maghrib (BAM).

By economic purpose, the growth rate of liquidity facilities rose from 6.7% to 7.4% and that of consumer loans stood at 4.7% after 4.2%, reported BAM in a note on its key indicators of monetary statistics from July 2019.

Conversely, the growth in real estate loans and loans to equipment slowed down respectively from 3.3% to 3% and from 2.3% to 2.2%, according to the same source.

By institutional sector, credit to the private sector grew by 4% after 3.8%, with an increase of 3.1% instead of 2.3% of loans to private non-financial corporations and a slowdown in growth from those to households from 5.6% to 5%.

The loans to public non-financial corporations, for their part, saw their decline increase to 5.1% after 1.5%, adds the Central Bank.

On a month-over-month basis, bank credit to the non-financial sector grew by 0.2%, mainly due to increases of 0.3% in equipment loans and 1.2% in consumer loans.

LNT with MAP

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