Moroccan banks grant 754bn dirhams of credits in 2014

Moroccan banks granted 754 billion dirhams of credits in the first eleven months of 2014, that is an increase of 3.76 percent compared to the same period in 2013, Minister of Economy and Finance, Mohamed Boussaid, said Tuesday.
Interest rates have improved since 2011 as they reached 6.23 percent in 2013 compared to 6.3 percent in 2012, the minister said at the question time of the House of Representatives.
This decline continued in the first three quarters of 2014 with a decrease of interest rates to 5.96 percent in the first quarter of 2014, compared to 6.52 percent in the last quarter of 2013, he added.
The minister recalled that interest rates were maintained at 6 pc in the third quarter of 2014, compared to 6.3 percent for the same period in 2013.