The financing provided by state banks for real estate purchases by non-residents has seen an increase exceeding 150% since the end of 2020, rising by approximately 12 billion dirhams from 8 billion dirhams to 20 billion dirhams, according to the latest data from the central bank up to the end of the first quarter of this year.
The central bank reported that the total cumulative balance of real estate financing granted by national banks reached 234 billion dirhams, encompassing all financing provided to both residents and non-residents, with loans to residents surpassing 214 billion dirhams by the end of March.
Financial institutions accounted for the largest share of bank financing in the business sector, with a total cumulative balance for both residents and non-residents amounting to 289.3 billion dirhams. This figure increased by over 144.3 billion dirhams since 2020.
Trade sector activities, in all their forms, received around 51 billion dirhams in new financing over the period, bringing the cumulative financing balance to a total of 204.2 billion dirhams by the end of March. Financing for residents rose from 138.6 billion dirhams to 172.5 billion dirhams, while financing for non-residents jumped from 13.3 billion dirhams to nearly 31.7 billion dirhams.
The overall cumulative balance of financing for the transport and communications sector increased by about 45 billion dirhams during this period. By the end of the first quarter of this year, it totaled 157 billion dirhams, allocated as 112 billion dirhams for residents and 45 billion dirhams for non-residents.
Industrial activities received 33 billion dirhams in financing during the same timeframe. The cumulative balance of financing for the industrial sector reached 127.6 billion dirhams, with 95.6 billion dirhams provided to residents and around 32 billion dirhams to non-residents.
The cumulative amount of financing allocated to the electricity, water, and gas sector amounted to 79 billion dirhams, of which 49 billion dirhams were for residents and about 30 billion dirhams for non-residents. The total cumulative balance of personal loans from national banks grew by 52%, accounting for approximately 176.5 billion dirhams in new financing, surpassing 729.3 billion dirhams overall. The balance of personal loans granted to residents exceeded 607 billion dirhams, while loans to non-residents reached around 8 billion dirhams.
Personal loans varied by purpose, with the cumulative balance for consumer financing for both residents and non-residents rising from 330.6 billion dirhams at the end of 2020 to 526.4 billion dirhams by the end of March this year. In contrast, the total financing for business establishment purposes decreased from 108 billion dirhams at the end of December 2020 to 88.6 billion dirhams by the end of the first quarter of this year.