During the first nine months of last year, banks operating in the country increased the size of their personal loans directed to business financing, which raised the total balance of this type of financing to 90.7 billion dirhams at the end of last September.
The latest figures from the Central Bank showed an increase in the value of personal loans allocated to businesses by 4.3 billion dirhams during the period from January to the end of September 2019, compared to the end of 2018 when the total balance reached about 86.4 billion dirhams.
Personal business finance constitutes 5.7% of the total balance of financial facilities provided for all economic activities, amounting to 1.565 trillion dirhams, at the end of September 2019.
The continuous rise of personal business loans is an indication of the continued activity of small and medium enterprises, which are the primary beneficiaries of financial facilities provided by banks, to the sector that is supported by the federal and local governments, given its great role in supporting the national economy.
It is noteworthy that the total increase in the balance of personal business loans, during the first nine months of 2019, constitutes 67% of the total provided by banks throughout the year 2018 for the sector, according to the statistics of the Central Bank.
The continuous rise of business loans is an indication of the continuing activity of small projects.