Morocco’s bank lending grows 9.9% in June as business financing accelerates

Sunday 02 August 2026 - 13:30

By: Sahili Aya

Morocco’s bank lending grows 9.9% in June as business financing accelerates

Bank lending to Morocco’s non-financial sector accelerated in June 2026, reflecting stronger financing activity among businesses and continued support for economic investment, according to the latest monetary statistics released by Bank Al-Maghrib.

The central bank reported that outstanding credit to the non-financial sector increased by 9.9% year-on-year in June, up from 8.9% recorded in May. The improvement was primarily driven by a sharper rise in financing granted to private companies, while lending to public enterprises also maintained solid momentum.

The figures point to sustained demand for business financing despite a more moderate pace of borrowing by households.

Private companies lead lending growth

According to Bank Al-Maghrib, loans extended to private non-financial corporations accelerated from 6.3% growth in May to 8.2% in June. Credit to public non-financial enterprises also strengthened, rising from 15.5% to 16.9% over the same period.

Household lending remained broadly stable, with annual growth holding at 3.4%, suggesting consumer borrowing continued to expand at a measured pace.

The latest data indicate that corporate investment remains the principal engine of credit growth within Morocco’s banking system.

Investment and working capital financing gain momentum

Across lending categories, nearly all segments recorded faster annual growth.

Working capital facilities expanded by 7.5%, highlighting increased financing needs for day-to-day business operations. Investment loans posted the strongest performance, surging 27.1%, underscoring continued spending on productive assets and business expansion.

Meanwhile, mortgage lending increased by 3.8%, while consumer credit rose 4.5%, reflecting relatively steady demand from households.

The broad-based improvement across loan categories suggests that both operational financing and long-term investment continue to support credit activity.

Asset quality shows signs of improvement

Bank Al-Maghrib’s report also highlighted a moderation in the growth of non-performing loans.

Outstanding impaired loans increased by 1.9% in June, compared with 4.9% in May. At the same time, the ratio of non-performing loans to total bank credit declined to 8.0%, down from 8.4% a month earlier.

The easing in problem loan growth points to a modest improvement in banking sector asset quality, even as lenders continue to monitor credit risks in a changing economic environment.