Bank deposits surged 7.3% year-on-year, reaching MAD 1,225.1 billion in the January-November period, according to Morocco’s central bank “Bank Al-Maghrib” (BAM).
Household deposits increased by 6.3%, totaling MAD 905 billion, with MAD 208.6 billion held by Moroccan expatriates, BAM pointed out in its latest “Credits – Bank Deposits” report.
For private non-financial businesses, their deposits amounted to MAD 217.3 billion, representing an annual rise of 12.9%, according to the same source.
Deposit facility rates on term deposits recorded monthly declines of 33 basis points for 6-month deposits and 15 basis points for 12-month deposits, settling at 2.35% and 2.74%, respectively, by the end of November.
The minimum deposit facility rate for savings accounts was set at 2.21% for the first half of 2025, a decrease of 27 basis points compared to the previous half.
The post Morocco’s Bank deposits jump 7.3% by end of November 2024 appeared first on HESPRESS English – Morocco News.
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