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Bank Al-Maghrib: key points from November monetary statistics

#Here are the key points of the monetary statistics of #Bank #Al-Maghrib (BAM) for the month of #November 2020:

1. The M3 aggregate (money supply) recorded, on a monthly basis, an increase of 0.4% to 1,447.4 billion dirhams (billion dirhams), mainly reflecting the increase of 1% in sight deposits with banks. #Fiduciary money and term accounts, on the other hand, fell by 1%.

2. #Year-on-year, growth of the M3 aggregate accelerated to 7.7% in #November from 7.3% in #October. #This change covers an increase of 10.6% after 9.8% in sight deposits with banks, a deceleration in the rate of increase in currency in circulation to 20.6% after 22.6% and an accentuation of the decline in bank deposits. term accounts from 12% to 12.9%.

3. #Net claims on the #Central #Administration increased by 25.7% after 18.7%, while the pace of official reserve assets decelerated to 18.2% after 22.5%.

4. #Bank lending growth accelerated from 4.3% to 5.2% year-on-year, with loans to the non-financial sector growing 4.7% versus 4.9%. #This latest development reflects the deceleration in the growth of loans to private non-financial corporations from 6.9% to 6%, the acceleration in the growth of loans to households from 2.3% to 2.7% and that to corporations. non-financial public at 4.4% after 4%.

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5. #By economic object, the evolution of credit to the non-financial sector covers a deceleration in the growth of liquidity facilities from 10.8% to 9%, an accentuation of the fall in consumer loans from 2.9% to 3.3%, an acceleration in the growth of real estate loans from 1.8% to 2.1% and a virtual stagnation in the growth of equipment loans to 1.5%.

6. The annual growth rate of bad debts accelerated from 14.7% in #November from 14.3% in #October. #Under these conditions, the rate of bad debts stabilized at 8.5%.

(#With MAP)

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##Bank ##AlMaghrib #key #points ##November #monetary #statistics


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