Bank Loans in Morocco Increase by 5.3%, Driven by Growth in Housing and Consumer Loans
Bank loans in Morocco have seen a significant rise of 5.3% year-on-year as of the end of August, largely propelled by increases in mortgage and consumer loans.
As of the end of August 2025, total bank loans decreased by 0.5% compared to the previous month, reaching 1.161 trillion dirhams. This development reflects a 2% decline in loans granted to the financial sector, while loans to the non-financial sector remained almost stable, decreasing by just 0.1%. There was a slight increase of 0.2% in loans directed to households, contrasted with a 0.5% drop in loans to non-financial companies.
According to the Economic Context Note issued by the Ministry of Economy and Finance, this trend is primarily attributed to a 3.2% decline in treasury loans and a near-total stabilization in financial and mortgage loans, alongside a 1% rise in equipment loans and a 0.2% increase in consumer loans.
On a year-on-year basis, the rate of growth in bank loans improved to +5.3% by the end of August 2025, compared to +4.9% in the previous month and +3.9% a year earlier. This improvement encompasses loans granted to the financial sector (+15.9% after +8.4% at the end of August 2024) as well as loans directed to the non-financial sector (+3.4% after +3.1% a year earlier).
The increase in the rate of growth of loans to the non-financial sector is mainly attributed to a rise in the volume of loans granted to households (+3% compared to +1.7% at the end of August 2024), while growth in loans provided to non-financial companies slowed (+2.1% compared to +3% at the end of August 2024).
By economic purpose, the development of bank loans notably reflects improved growth rates for equipment loans (+21.5% after +12.8% the previous year), consumer loans (+3.9% after +0.8% at the end of August 2024), and mortgage loans (+3.3% compared to +1.5% last year).
This improvement in mortgage lending includes loans directed towards housing (+3% compared to +1.5% at the end of August 2024) as well as those granted to real estate developers (+7.6% compared to +4.8% the previous year).
Financial loans also rose by 3% after a slight decline of 0.3% at the end of August 2024. Meanwhile, treasury loans fell by 3.5% after a 3.7% increase the previous year.
Regarding non-performing loans, the growth rate accelerated to +5.6% after +3.4% the previous year.
