The largest ever in a 10-month period

10.3 trillion dirhams of financial transfers in the banking sector

Private sector financing was distributed between individual loans and the commercial and industrial sectors.

archival

Remittances in the banking sector in the country recorded their highest level ever during the first 10 months of 2022, since the establishment of the Central Bank Transfers System, as they reached 10.3 trillion dirhams at the end of last October, compared to 7.8 trillion dirhams at the end of the same period in 2021. With an annual growth rate of about 32%.

Yesterday, data issued by the Central Bank showed that these transfers included transfers between banks at a value of 6.3 trillion dirhams, and about four trillion transfers between bank customers.

checks

It also showed that the value of the checks that were cleared using its optical images through the Central Bank system amounted to one trillion and 17 billion dirhams for 18 million checks, during the period between January and October of last year.

According to the data, cash withdrawals from the Central Bank during the same period amounted to 166.4 billion dirhams, compared to cash deposits with the Central Bank of 162.5 billion dirhams.

finances

The data indicated that banks granted the private sector, during the monitoring period, financing worth 54 billion dirhams, as the total balance of this item at the end of last October reached one trillion and 175 billion dirhams, compared to one trillion and 121 billion dirhams at the end of December 2021, a growth of 4.8%.

Private sector financing was distributed between loans to individuals, the commercial and industrial sector, and loans to small and medium-sized companies, as banks provided loans to individuals at a value of 22.8 billion dirhams, to reach 370.4 billion dirhams at the end of October 2022, compared to 347.6 billion dirhams at the end of December 2021.

Commercial and industrial sector financing at the end of last October amounted to 804.6 billion dirhams, compared to 773.1 billion dirhams at the end of December 2021, an increase of 31.5 billion dirhams, equivalent to a growth of 4.1%.

Bank investments

Data issued by the Central Bank yesterday showed that total bank investments amounted to 493.7 billion dirhams, at the end of last October, compared to 473.2 billion dirhams at the end of December 2021, an increase of 20.5 billion dirhams during the first 10 months of 2022.

These investments were distributed among bonds, securities, stocks and other investments.

Debt provisions and outstanding interest recorded 121.6 billion dirhams at the end of October 2022, compared to 121.5 billion dirhams at the end of December 2021, while general provisions at the end of the comparison period amounted to 36.7 billion dirhams, compared to 34.8 billion dirhams.

• 54 billion dirhams of private sector financing during the first 10 months of 2022.

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