Bank Al-Maghrib (BAM) said that deposits with banks grew by 7.2% annually to stand at more than 1,034.3 billion dirhams (billion dirhams) during the first seven months of 2021.
BAM’s “bank loans and deposits” dashboard shows that household deposits increased by 4.6% to MAD 772.3 billion, with MAD 188 billion held by Moroccans residing abroad (MRE), while the deposits of private companies increased by 10.9% to 155.5 billion dirhams at the end of July.
In addition, interest rates on term deposits recorded at the end of July, an increase of 6 basis points to 2.41% for those at 6 months and a decrease of 11 points to 2.58% for those at 12 months. .
For savings accounts, their minimum rate of return was set at 1.03% for the second half of 2021, a decline of 24 basis points compared to the previous half.