Business
Bank Lending: Loans to Private Companies Jump to 11%
Bank lending to the non-financial sector increased by 10.1% in July 2026, after rising by 9.8% in June, according to Bank Al-Maghrib (BAM). This development was mainly driven by the acceleration in financing granted to private non-financial companies.
According to BAM’s latest monetary statistics bulletin, the growth in financing granted to private non-financial companies accelerated, rising from 8.1% to 11%.
Conversely, the growth in loans granted to public non-financial companies slowed significantly, from 15.9% to 3.1%. Loans to households, for their part, remained almost stable, with growth of 3.3%.
By economic purpose, the evolution of bank lending notably reflects the acceleration in cash-flow facilities, whose growth increased from 6.9% to 8.7%.
This increase is explained by the rise in cash-flow loans granted to private non-financial companies, which increased from 6.4% to 11.3%. At the same time, cash-flow loans to public non-financial companies grew by 4.3%, following an increase of 8.3% in June.
Growth in equipment loans, however, slowed to 25.7%, compared with 27.1% one month earlier. This development was linked to the slowdown in financing granted to public non-financial companies, whose growth fell from 21.5% to 5.6%.
Real estate loans recorded virtually stable growth of 3.9%, while consumer loan growth remained at 4.5%.
Regarding non-performing loans (NPLs), their growth accelerated to 3.1% in July, compared with 1.9% in June. Their ratio relative to bank lending, however, remained stable at 8.1%, according to BAM.
