Data released by the Central Bank revealed yesterday that banks expanded in granting various loans and financing to the local and foreign market, during last November, after October 2019 recorded a decline for the first time in this item.
The data indicated that the banks provided total funds during last November, with a value of 13.4 billion dirhams, bringing the cumulative balance at the end of the month to one trillion and 721.9 billion dirhams, compared to one trillion and 708.5 billion at the end of last October.
Bank financing was distributed in November to 6.3 billion dirhams for the domestic market, and 7.1 billion dirhams for non-residents and non-bank institutions and for the payment of commercial bills.
On the other hand, during November 2019, bank deposits recorded a slight decrease of 200 million dirhams, stable at one trillion and 819.6 billion dirhams, compared to one trillion 819.8 billion dirhams.
The figures showed that deposits continued to outperform loans during last November by 97.7 billion dirhams.
The total investment of banks recorded 396 billion dirhams at the end of November, down from 409 billion at the end of the previous October, a decrease of 13 billion dirhams.
The figures indicated that the individuals ’funds increased during the monitoring period, reaching 334.5 billion dirhams at the end of November, compared to 333.4 billion dirhams at the end of October, an increase of 1.1 billion dirhams.
The balance of the current accounts of banks at the Central Bank increased by the end of November to reach 32.3 billion dirhams, compared to 14.3 at the end of October, an increase of 18 billion dirhams, and a growth of 125.9%.