Its superiority over loans reflects the abundance of liquidity in the banks

Bank deposits rise 13.6 billion dirhams during August 2021

The monetary base rose by 1.8%.

archival

The Central Bank revealed, in data issued by it yesterday, that bank deposits rose last August by 13.6 billion dirhams, to reach a historical level that is the highest ever, recording one trillion and 928 billion and 700 million dirhams, compared to one trillion and 915 billion and 100 million dirhams at the end of July previous it.

Deposits continued to outperform loans at the end of August, reaching 157.3 billion dirhams, which reflects the abundance of liquidity at banks, at a time when funds were provided during August of only 2.8 billion dirhams.

bank credit

The Central Bank pointed out that total bank credit increased by 0.2%, from one trillion and 768 billion and 600 million dirhams at the end of July 2021 to one trillion and 771 billion and 400 million dirhams at the end of August 2021, as a result of a 0.3% increase in domestic credit, despite a decrease of 0.8% in foreign credit.

The rise in domestic credit is attributed to an increase of 0.6%, 0.3%, and 4.5% in credit granted to the government sector, credit to the private sector, and credit granted to non-bank financial institutions, respectively, in contrast to a decrease in credit granted to the public sector (parties with related to the government) by 0.3%.

bank deposit

According to the Central Bank’s data, total bank deposits increased by 0.7% from one trillion and 915 billion and 100 million dirhams at the end of July 2021, to one trillion and 928 billion and 700 million dirhams at the end of August 2021, as a result of an increase of 0.6% in residents’ deposits, and an increase of 1.5 % in non-resident deposits.

In turn, residents’ deposits increased due to a 4.6% increase in public sector deposits (government-related entities), and a 0.6% increase in private sector deposits, despite the decrease in government sector deposits, and deposits of non-bank financial institutions by 1.0% and 12.1% Straight.

cash offer

The money supply (M1) increased by 1.1% from 653.9 billion dirhams at the end of July 2021 to 661.1 billion dirhams at the end of August 2021. The money supply (M2) also increased by 0.7% from 1477.9 billion dirhams at the end of July 2021 to 1487.8 billion dirhams in end of August 2021.

The money supply (M3) increased by 0.3% from 1775 billion dirhams at the end of July 2021, to 1780.7 billion dirhams at the end of August 2021.

The increase in money supply (M1) is due to an increase of 9.7 billion dirhams in cash deposits, despite a decrease of 2.5 billion dirhams in cash in circulation outside banks, while the increase in money supply (M2) is due to an increase in (M1), and an increase of 2.7 One billion dirhams in semi-cash deposits.

As for the increase in the money supply (M3), it is due to the increase in the money supply (M1) and (M2), despite a decrease in government deposits by 4.2 billion dirhams.

monetary base

The monetary base rose by 1.8%, from 436.9 billion dirhams at the end of July 2021 to 444.7 billion dirhams at the end of August 2021.

This came as a result of a 68.5% increase in current accounts and overnight deposits for banks and other financial institutions, despite a decrease of 2.6%, 16.2%, and 1.5% in issued cash, reserve account, certificates of deposit and cash bills, respectively. .

Total banking assets inclusive decreased by 0.2% from 3233.4 billion dirhams at the end of July 2021 to 3228.5 billion dirhams at the end of August 2021.

• Banks provided financing during August 2021 worth 2.8 billion dirhams.

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