Bank Credit Increased by 3% in July – BAM –

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Bank credit in the non-financial sector increased, year-on-year, by 3% last July after 4.1% a month earlier, said Bank Al-Maghrib (BAM-central bank). This development reflects increases in loans to households of 5.6% and those of private companies of 2.6%, said the BAM in its key indicators of monetary statistics for July 2021. By economic object, the evolution of credit for the non-financial sector covers increases of 8.6% in liquidity facilities, 3.6% in mortgage loans and 1.1% in consumer loans as well as a decrease in equipment loans of 4.1%, the same source said. With regard to outstanding debts, their annual growth rate decelerated from 9.2% in June to 8.2% in July 2021, reflecting the slowdown in the growth of those of private companies to 8.1% and the stagnation of those of households at 8.6%.