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Non-Financial Sector: Credit Increases by 6.7% in Q4-2022 – Central Bank

Credit to the non-financial sector grew by 6.7% in the fourth quarter of 2022, instead of 5% a quarter earlier, according to Bank Al-Maghrib (BAM).

This evolution is due to accelerated rates of growth in loans to private companies from 8.7% to 9.8%, and to households from 3.4% to 3.6%, as well as an increase of 6.3% in loans to public companies against a decline of 10.9% in the third quarter, explains Morocco’s central bank in its recent report on monetary policy.

The evolution of credit to private companies reflects in particular a 4% increase in equipment loans after 3.2% and a consolidation of the pace of growth of liquidity facilities to 14.7%, adds the same source.

Regarding the assistance granted to public enterprises, cash facilities have increased by 166.1% after 54.9% in the third quarter and the decline in equipment loans was mitigated from 16.9% to 5.9%.

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