111 billion dirhams bank financing for the local market in 2024

The banks operating in the country pumped 111 billion dirhams directed to the local market with its various economic sectors alongside individuals, during a year, bringing the cumulative balance of the total local credit, at the end of December 2024, to a trillion and 848.7 billion dirhams, compared to one trillion and 737.6 billion dirhams, at the end of December 2023, with an annual growth of 6.4%.

Data issued by the Central Bank yesterday showed that among the credit granted locally, the financing of individuals came at a value of 71 billion dirhams, at 64%, the total funds, as it amounted to 488.8 billion dirhams compared to 417.8 billion dirhams at the end of 2023, with an annual increase that is the highest during the last eight years by 17%.

The funds of the commercial and industrial sectors, at the end of last year, amounted to 857.1 billion dirhams, compared to 822.4 billion dirhams, at the end of 2023, an annual increase of 34.7 billion dirhams, equivalent to 4.2%growth.

Among the funds of the commercial and industrial sectors, small and medium enterprises obtained loans and facilities worth 83 billion dirhams, at the end of 2024, compared to 82 billion dirhams, at the end of 2023, an annual increase of one billion dirhams.

The total bank investments, at the end of the monitoring year, amounted to 735.6 billion dirhams, compared to 635.1 billion dirhams, at the end of 2023, an annual increase of 100.5 billion dirhams, equivalent to growth of 15.8% annually.

The total bank deposits increased during the past year, at a value of 325 billion dirhams, with a total balance, at the end of last December, two trillion and 847 billion dirhams, compared to trillion and 522 billion dirhams at the end of 2023, annual growth of 12.9%.

According to the “Central” data, the total financial transfers in the banking sector for each of the customers and banks, at the end of last year, reached 19.89 trillion dirhams, compared to 17.16 trillion dirhams in 2023 with an annual growth of about 16%.

The value of the checks that have been resigned through the central bank system using its optical images, during the past year, reached 1.33 trillion dirhams, with a number of 22.6 million checks, while the value of the withdrawals from the central bank, during the same year, reached 209 billion dirhams, which was met by deposits at the “Central” also of 192 billion dirhams.

• 19.89 trillion dirhams total financial transfers in the banking sector by the end of last year.