The assets of the "sector" recorded 3.64 trillion dirhams at the end of November

34.5 billion dirhams increase in bank deposits within a month

The Central Bank: The monetary base expanded by 3.7% to 486 billion dirhams at the end of November.

archival

Bank deposits in local banks increased at the end of last November, amounting to 34.5 billion dirhams, recording a total of 2 trillion and 239.2 billion dirhams, a growth of 1.6% from their level in the previous October, which amounted to 2 trillion and 204.7 billion dirhams, according to data issued by the bank. Central, yesterday.

The data showed that deposits continued to outperform loans during November 2022, as the difference between them at the end of the month amounted to 351.5 billion dirhams in favor of deposits, which reflects the strength of liquidity in the banking sector.

deposits

The increase in bank deposits is due to the increase in government financial surpluses, as well as the willingness of individuals to deposit their money in banks after raising the interest rate more than six times during the first 11 months of last year.

The Central Bank data indicated that the deposits of residents in the country increased by 2.5%, exceeding the decrease in deposits of non-residents by 6.2%.

She explained that the deposits of residents increased as a result of an increase in the deposits of the government sector (0.6%), the public sector (9.8%), and the private sector (2%), while the deposits of non-banking financial institutions increased by 1.3%.

credit

On the other hand, total bank credit increased to reach 1 trillion and 887.7 billion dirhams at the end of last November, compared to 1 trillion and 877.9 billion dirhams at the end of last October, with a monthly increase of 9.8 billion dirhams, equivalent to a monthly growth of 0.5%.

assets

The assets of the banking sector increased during last November alone, by a value of 24.1 billion dirhams, bringing the total at the end of the month to three trillion and 639.3 billion dirhams, compared to three trillion and 615.2 billion dirhams at the end of October, with a monthly growth of 0.7%.

monetary base

According to the “Central” data, the monetary base expanded by 3.7% from 468.8 billion dirhams at the end of last October to 486 billion dirhams at the end of November, as a result of the increase in the issued currency and overnight deposits of banks and other financial institutions in the Central Bank by 4.8% and 58. 3% respectively.

• 351.5 billion dirhams, deposits exceeding loans at the end of November 2022.

assets of the central bank

The total assets owned by the Central Bank increased by the end of November to 513.6 billion dirhams, compared to 486.2 billion dirhams at the end of the previous October, with a monthly increase of 27.4 billion dirhams, equivalent to a growth of 5.6%.

The Central Bank's assets include cash, bank balances, deposits and investments held to maturity, in addition to loans, advances and other assets.

Follow our latest local and sports news and the latest political and economic developments via Google news