REAL ESTATE LOANS: MODERATE GROWTH

HIBAPRESS-RABAT-COMMUNIQUE
A weak progression which results from a very moderate growth in housing loans with +2.5% to 241.3 billion DH, and a drop of 7.4% in loans to real estate developers (52.4 billion). Only crowdfunding for housing shows a vigorous increase of 17.1%, totaling an outstanding amount of 20 billion DH which now represents a weight of 8.3% of the overall outstanding housing loans.
Outstanding bank credit stood at 1,049 billion DH at the end of May, up 6.5% or 64.2 billion compared to the same period in 2022.
This increase is mainly driven by credits to other financial institutions (credit companies, insurance companies, etc.) which show a surge of 23% or 30.6 billion DH (outstanding amounts of 163.7 billion) and to a lesser extent measured by cash flow credits (+12.5 billion) and equipment credits (+9.2 billion) mobilized by companies.
Household demand is at half mast, reflected not only by the slowdown in home loans but also by consumer loans which only grew by 2% or 1.1 billion DH.
Overdue debts held by banks on their customers increased almost to the same level as the overall outstanding loans, with +6.3% or 5.5 billion DH, totaling 93 billion, i.e. a rate of unpaid by 8.8%.