BAM: Bank deposits up 5.2% in 2021

Bank Al-Maghrib’s (BAM) annual report on the economic, monetary and financial situation reveals that bank deposits increased by 5.2% in 2021 instead of 6.4% a year earlier.

In this report, presented on Saturday by Wali of BAM, Abdellatif Jouahri to King Mohammed VI, it is specified that this development covers a deceleration from 10.6% to 7.6% for demand deposits, a quasi-stability, instead a 9.5% decrease in term deposits and a recovery in foreign currency deposits of 5.4% after a contraction of 5.4%.

By institutional sector, deposits from private non-financial companies increased by 10.8% to 174.4 billion dirhams (MMDH), mainly covering an 11.4% increase in demand deposits and a decline of 1.8% of those in the long term, adds the same source.

With regard to individuals, sight deposits and savings accounts improved by 6.7% and 2.9% respectively, while time deposits fell by 7.9%. In total, the outstanding amount of all their deposits increased by 3.9%, from one year to the next, to stand at 753 billion dirhams, including 185.9 billion held by Moroccans living abroad. As for public companies, their assets with banks increased by 28.3% to 23.7 billion dirhams.

For the other components of the money supply, after the exceptional increase observed in 2020, currency in circulation returned to its pre-crisis rate, with an increase of 6.5% and money market UCITS securities, for their part, , increased by 12.5% ​​instead of 17.1%. All in all, the growth rate of the M3 aggregate fell from 8.4% in 2020 to 5.1% in 2021.



Please enter your comment!
Please enter your name here