Moroccan Household Bank Debts in Late 2011 up 8.4%

Moroccan household credits totalled, in late 2011, 234 billion Dirhams, up 8.4% over the year earlier, according to Morocco’s central bank (Bank Al-Maghrib).

These loans represent 32% of those granted by credit institutions compared to 33% in 2010, the Bank said in its annual report on the activity and results of credit institutions for 2011, released on Wednesday.

The housing credit, with 137.3 billion dirhams, increased by 10.8%, compared to13.2% in 2010.

Loans destined for propoerty development rose more steeply compared to 2010, with 7.4% as against 2.2%.

As to consumer credit, which represents 12% of overall loans given by credit institutions, it rose by 7%, standing at 82.2 billion dirhams over 4.5 % in 2010