The total volume of bank deposits in Morocco has continued to grow, reaching 1.4319 billion dirhams at the end of August 2026. This represents a 10% annual increase, according to the latest data from Bank Al-Maghrib. The growth in deposits is a positive indicator for the country's banking sector. The data was released in the central bank's quarterly report on credit and banking deposits.
The majority of these deposits come from households, which have accumulated 1.0372 billion dirhams. This represents a 9% increase compared to the same period last year. Moroccan households continue to trust the banking system, with their deposits making up a significant portion of the total. Moroccan residents living abroad also hold a substantial amount, with 235.5 billion dirhams in deposits.
The growth in deposits is not limited to households, as companies are also contributing to this trend. Deposits from private non-financial companies reached 258.1 billion dirhams, representing an annual increase of 11.6%. This indicates that companies are also using banking services to manage their finances. The increase in deposits from companies and households has contributed to the overall growth in bank deposits.
The remuneration of savings varies depending on the maturity of the deposits. The interest rate for six-month term deposits decreased by 30 basis points to 2.15%. In contrast, the interest rate for 12-month term deposits increased by 7 basis points to 2.65%. These changes reflect the current market conditions and the central bank's monetary policy.
The minimum interest rate for savings accounts was set at 1.82% for the second half of 2026. This represents an increase of 21 basis points compared to the first half of the year. The change aims to encourage savings and provide a better return for depositors. The new rate will apply to all savings accounts.
The growth in bank deposits is a positive indicator for Morocco's economy. It reflects the trust of households and companies in the banking system. The central bank's data also provides insights into the evolution of the country's financial sector. The growth in deposits has also led to an increase in the resources collected by banks.
The Moroccan banking sector continues to show resilience and growth. The 10% annual increase in deposits is a testament to this. As the sector continues to evolve, it will be interesting to see how deposits and savings trends change in the future. The central bank's data will continue to provide valuable insights into the country's financial sector.
Key points
- Moroccan bank deposits reached 1.4319 billion dirhams at the end of August 2026, a 10% annual increase.
- Household deposits make up the majority of bank deposits, with 1.0372 billion dirhams.
- The minimum interest rate for savings accounts was set at 1.82% for the second half of 2026.
