Bank Al-Maghrib reported that deposits with banks amounted to 1,131.3 billion dirhams at the end of June 2023, an annual increase of 4.2 percent.
Bank Al-Maghrib stated, in the latest dashboard related to “bank loans and deposits” for the month of June, that household deposits amounted to 841.5 billion dirhams, an increase of 5.2 percent, including 201.8 billion dirhams held by Moroccans living abroad. While private contracting deposits increased by 7 percent to reach 189.4 billion dirhams.
The same source added that interest rates on 12-month deposits decreased from one month to another by 29 basis points to reach 2.85 percent, highlighting that 6-month deposits recorded a contraction of 9 basis points, to settle at 2.41 percent.
With regard to savings accounts, the minimum rate of return was set at 2.98 percent for the second half of 2023, an increase of 147 basis points compared to the previous half.
