49 billion dirhams increase in credit within a month

The Central Bank reported that total credit increased by 49 billion dirhams during the month of September alone, rising from 2.113 trillion dirhams at the end of the previous August, to 2.162 trillion dirhams at the end of last September, with a growth of 2.3%.

In a report issued yesterday, the Central Bank attributed the increase in total credit to an increase in domestic credit by 1.6% and foreign credit by 6.9%, indicating that the expansion in domestic credit is due to an increase in credit to the government sector by 0.4%, and an increase in credit to the public sector. by 2.7%, the increase in credit to the private sector by 1.5%, and the increase in credit to non-banking financial institutions by 1.8%.

He pointed out that total bank deposits increased by 21 billion dirhams during September, by 0.8%, as it increased from 2.740 trillion dirhams at the end of the previous August, to 2.761 trillion dirhams at the end of last September, attributing the increase to the increase in residents’ deposits by 0.8% and the increase On non-resident deposits at a rate of 0.5%.

The Central Bank explained that residents’ deposits increased as a result of increases in deposits of government-related entities by approximately 5%, private sector deposits by 0.8%, and deposits of non-banking financial institutions by 20.5%, exceeding the decrease in government sector deposits by 3.9%.

The report noted an increase in total banking assets, including bank acceptance certificates, by 0.5%, from 4.378 trillion dirhams at the end of the previous month, to 4.402 trillion dirhams at the end of last September.

According to the report, the monetary base expanded by 1.2%, rising from 734.9 billion dirhams to 743.5 billion dirhams during the same period.