54.6 billion loans to non-residents last year

Local banks expanded the financing of non-resident customers in the country by granting them 54.6 billion dirhams in new loans during 2022, bringing the total of those financing (cumulative balance), according to recent indicators of the Central Bank, by 31.2%, from 175.1 billion dirhams at the end of 2021 to 224.7 billion dirhams at the end of the previous year.

The banking sector in the country, in general, witnesses banks seeking to stimulate lending to non-residents through various programs to finance activities, including direct financial loans, in addition to financing projects and economic activities, in addition to buying real estate and personal loans.

the financial sector

Central Bank indicators showed that financing for financial sector activities at the end of December represented the largest sector funded by banks at the level of non-residents with 24.2% of total financing, attracting new financing at a value of 24.5 billion dirhams in 2022, at a time when transportation sector financing ranked second in terms of financing. The total amount of financing reached 15.8%, with a cumulative total of 36.5 billion dirhams, and a financing value of 6 billion dirhams in the past year.

The government sector attracted new financing amounting to 8.6 billion dirhams, bringing the cumulative total to more than 26.7 billion dirhams, about 11.6% of the total financing.

Transformative Industries

Manufacturing industry financing exceeded 23.5 billion dirhams, at a rate of 10.3% of the total balance of bank financing for non-residents until the end of the year, followed by the mining sector, with a total of 22.9 billion dirhams, with additional financing that took place in 2022 amounting to 7.8 billion dirhams, while the cumulative trade sector financing was recorded. 16.5 billion dirhams, attracting 1.6 billion dirhams of new financing last year.

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Real estate financing for non-residents exceeded 4.6 billion dirhams in new financing during the past year, bringing the total cumulative financing to nearly 17.4 billion dirhams. In favor of buying real estate, where 3.8 billion dirhams were granted in financing for purchase in 2022, bringing the total financing to approximately 13 billion dirhams. Banks compete to grant financing to those wishing to invest in real estate within the country, with a lending ceiling of up to 10 million dirhams, with the application of soft terms and flexible repayment periods subject to the requirements followed in the local credit sector.

personal lending

The indicators of the Central Bank showed that personal lending to non-residents witnessed a variation in 2022, as a remarkable activity during the first half contributed to reducing the impact of the relative decline in the last half, bringing the total recorded borrowing to non-residents in general, an increase from 14.8 billion dirhams at the end of 2021 to about 16.7 billion. dirhams at the end of last year.

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