3 billion dirhams of individual loans within a month

Banks continued to grant loans to individuals at a rapid pace, as they recorded an increase of three billion dirhams during last February alone, bringing the total balance of this item at the end of the month to 352 billion dirhams, compared to 349 billion dirhams at the end of the previous January, with a monthly growth of 0.8%.

Financing for individuals ranges from personal loans, credit cards, auto loans and other retail sales to individuals.

Since the middle of last year, banks have begun to expand granting loans to individuals after a period of reservation that exceeded a year due to the spread of the Corona pandemic and its accompanying negative repercussions on the economy.

At the end of last February, individual loans recorded their highest level in the past six years.

Data issued yesterday by the Central Bank also indicated that the total credit value provided by banks during the comparison month to all sectors amounted to 10 billion dirhams, bringing the total loan portfolio to one trillion and 810 billion dirhams, compared to the end of last February, compared to one trillion and 800 billion dirhams at the end of the previous January. 

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