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Mrirt – Banking credit to Morocco’s non-financial sector reached 3.5% growth in February, up from 3.3% in January, according to the latest monetary statistics bulletin released by Bank Al-Maghrib (BAM), Morocco’s central bank.
The acceleration reflects increased lending to both non-financial companies and households, says the bulletin. Private non-financial companies saw their credit growth rise to 1.6%, up from 1.2% in January, while public companies experienced a more significant jump to 12% from the previous month’s 8.6%.
Household credit growth also picked up pace, reaching 2.2% compared to 2% a month earlier.
Breaking down the figures by economic purpose, BAM reported that several key lending categories showed improved growth rates. Treasury facilities increased by 1.9%, up from 1.6% in January. Equipment loans saw more substantial growth, rising to 9.7% from 8.9%, while consumer credit expanded by 1.8%, compared to 1.6% the previous month.
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Real estate loans maintained a relatively stable growth rate of approximately 2.7% month-over-month.
Meanwhile, non-performing loans showed signs of improvement, with their growth rate slowing to 3.2% in February from 3.8% in January 2025. However, the ratio of non-performing loans to total credit edged up slightly to 8.7% from 8.6%.
These figures suggest a gradually improving lending environment in Morocco, with businesses showing increased appetite for both operational funding and capital investments. The accelerating growth in consumer credit, though modest, may indicate rising consumer confidence.
However, the slight uptick in the non-performing loan ratio bears watching, as it could signal potential stress in loan repayment capabilities despite the overall positive lending trends.
