Casablanca – While the number of housing loans rebounded by 20.1%, the outstanding consumer loans in Morocco climbed by 5.3% by the end of 2021, according to the most recent statistics from the Moroccan central bank, Bank Al-Maghrib (BAM).
In order to determine the profiles that use debt the most, BAM evaluated the profile of beneficiaries of consumer and housing loans based on age, income, socio-professional category, and place of residence.
According to BAM’s 18th annual report on banking supervision in Casablanca, private sector employees (48%) have the most recourse to consumer loans, followed by civil servants (33%), with the remaining portion divided among pensioners (7%), craftsmen and traders (6%), and other professions (6%).
Regarding incomes, people earning less than MAD 4,000 ($388) per month account for roughly 36% of consumer loans files, compared to 22% for those earning between MAD 4,000 ($388), MAD 6,000 ($583), and more than MAD 10,000 ($972). People earning between MAD 6,000 ($583) and MAD 10,000 ($972) account for 20% of consumer loans files.
In terms of age, beneficiaries over 50 years old use consumer loans the most (40%). Following are individuals between 30 and 39 years old (26%), people between 40 and 49 years old (25%), and finally those under 30 years old (9%).
As for the geographical location, the beneficiaries of consumer loans are concentrated in the urban areas of Casablanca (28%) and Rabat (20%).
According to BAM’s data, the typical Moroccan profile using consumer loans is an employee over 50 years old residing in Casablanca with an annual salary of less than MAD 4,000 ($388).
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BAM’s analysis further shows that private sector employees are the main beneficiaries of housing loans (43%); they are followed by civil servants (37%). Meanwhile, craftsmen traders and liberal professions account for 7% and 12% of the workforce, respectively.
In terms of income, the first recipient of housing loans earns more than MAD 10,000 ($972) per month (32%) — compared to 29% for those earning less than MAD 4,000 ($388), 22% for those earning between MAD 4,000 ($388) and MAD 6,000 ($583), and 17% for those earning between MAD 6,000 ($583) and MAD 10,000 ($972).
People over 40 years of age accounted for nearly 63% of the total number of beneficiaries, compared to 30% for people between 30 and 40 years of age, and 7% for people under the age of 30.
Based on the geographical distribution, roughly 37% of home loan beneficiaries live in the Casablanca-Settat area, followed by the Rabat-Sale-Kenitra region, which has 18% of home loan beneficiaries.
One of the main takeaways from BAM’s data is that the typical profile of a Moroccan taking out a housing loan would be an employee residing in Casablanca, aged 40 to 49, and earning more than MAD 10,000 ($972).
