The dashboard related to “bank loans and deposits” issued by Bank Al-Maghrib reported that the current amount of bank loans amounted to AED 1,027.8 billion, during the first half of 2022, with an annual increase of 4 percent.
Bank Al-Maghrib indicated that bank loans to non-financial agents amounted to AED 876.7 billion, and those to financial agents amounted to AED 151.1 billion.
The 6 percent annual increase in loans to nonfinancial private companies mainly reflects increases of 11 percent in treasury lines and, to a lesser extent, equipment loans by 1.4 percent; While real estate loans decreased by 2 percent.
On the other hand, the board highlighted that Bank Al-Maghrib’s situational research showed that access to financing, during the second quarter of 2022, was considered by 82% of industrial companies as “normal”, and 11% considered it “comfortable”. ”, with a stable credit cost.
According to the results of the investigation on the conditions for granting loans in the first quarter of 2022, the criteria for treasury loans have been relaxed, keeping them unchanged for equipment loans and tightening them for real estate recovery loans. .
Depending on the size of the company, there have been no changes in the standards, whether for very small, small or medium-sized companies, as well as for large companies. Regarding demand, there may have been a decrease at the level of very small, small, medium and large companies, as well as at the level of all credit targets.
In the second quarter of 2022, the interest rates applied to new loans increased by 4.05 percent. And depending on the size of the contract, it was 3.79 percent for large contracts, and 4.82 percent for very small, small and medium-sized companies.
Regarding loans granted to families, an annual increase of 3.6 percent was recorded, which mainly reflects a 2.5 percent increase in housing loans.
As for crowdfunding for housing, especially in the form of “Murabaha real estate”, its growth continued to stand at 17.4 billion dirhams, after 14 billion dirhams a year ago.
During the first quarter of 2022, the banks announced that they would not change the criteria for granting housing and consumer loans. Regarding demand, there was an increase in consumer loans and a decrease in housing loans.
As for the interest rates applied to new loans granted to families, they amounted to 4.19 percent in the second quarter of 2022 for housing loans, and 6.32 percent for consumer loans.