The annual rate of growth of bank credit slightly decelerated to 1.2% in November 2018, says Bank Al-Maghrib (BAM).
By economic purpose, the growth rate of loans to equipment fell from 3.4% to 1.1% and that of consumer loans from 5.8% to 5.5%, says BAM in a note on its key indicators of monetary statistics November 2018.
Real estate loans, for their part, registered an increase of 2.4% after 2.1%, covering an increase of 3.6% after 2.9% of housing loans and an accentuation of the decline in property development loans fell from 3% to 4%, adding that the liquidity facilities rose 1.7% after a drop of 0.2%.
By institutional sector, the evolution of loans to the non-financial sector slowed down from 2% to 1.8%, reflecting a deceleration in the growth rate of loans to public non-financial corporations from 5.9% to 2.3% and decline of the competition to private companies by 0.3% after that of 0.4% in October, says BAM. On the other hand, loans granted to households rose by 3.8% after 3.6%.
Bank lending was up 0.1%, on a month-on-month basis, driven by all of its components, with the exception of consumer loans, the outstanding amount of which remained unchanged from one month to the next. Cash facilities increased by 0.2%, equipment loans by 0.4% and real estate loans by 0.2%.