Rabat — Bank deposits in Morocco reached MAD 1.303 trillion ($145.25 billion) by the end of July, marking an 8.3% increase from the previous year.
Morocco’s central bank, Bank Al Maghrib (BAM), released these figures in its latest Bank Credits-Deposits dashboard.
The report indicated that household deposits drove much of this growth, climbing 6.4% year-over-year to MAD 948.2 billion ($105.611 billion).
Moroccans living abroad (EMRs) contributed MAD 214.6 billion ($23.92 billion) to the total of the country’s household deposits.
BAM’s dashboard also revealed that private non-financial companies significantly boosted their deposits, holding MAD 229.1 billion ($25.51 billion) in deposits, a 9.7% jump compared to July 2024.
Interest rates on time deposits fell during July. Six-month deposit rates dropped 11 basis points to 2.16%, while 12-month rates declined more sharply by 39 basis points to 2.57%.
The central bank also adjusted savings account rates for the second half of 2025. The minimum interest rate for savings accounts now stands at 1.91%, down 30 basis points from the previous semester.
These changes reflect Morocco’s evolving banking landscape as the country continues to attract both domestic and international deposits while adjusting interest rates in response to economic conditions.
