Bank Al-Maghrib: Bank Deposits Rise to MAD 1.302 Billion by the End of August Amid Changes in Interest Rates
Bank Al-Maghrib reported that the total deposits in banks reached MAD 1.302 billion at the end of August, marking an annual increase of 8.3 percent.
The central bank outlined in its dashboard on “Loans and Bank Deposits” that household deposits experienced an annual increase of 6.5 percent, reaching MAD 951.8 billion, of which MAD 215.3 billion are held by Moroccans residing abroad.
Moreover, deposits from non-financial private companies totaled MAD 232 billion, with an annual rise of 10.9 percent.
Regarding interest rates, 12-month deposit rates decreased by 9 basis points, falling from 2.57 percent in July to 2.48 percent in August, while interest rates on 6-month deposits rose by 30 basis points, from 2.16 percent to 2.46 percent.
Bank Al-Maghrib confirmed the maintenance of the minimum interest rate on savings accounts at 1.91 percent for the second half of 2025, reflecting a decrease of 30 basis points compared to the first half.
