Moroccan household financial assets rose to 1.19 trillion dirhams in 2025, but household debt recorded its strongest increase since 2012 as housing and consumer borrowing accelerated, according to the country’s latest Financial Stability Report.
The assets were mainly held in bank deposits, which reached 935 billion dirhams, while household investments in securities climbed to 114 billion dirhams, the report said.
The annual assessment was issued jointly by Bank Al-Maghrib, the Moroccan Capital Market Authority and the Insurance and Social Welfare Supervisory Authority.
Household debt increased to 456 billion dirhams, equivalent to 27% of gross domestic product.
The average debt-service burden among new borrowers rose slightly, as did the proportion of households spending more than 40% of their income on debt repayments.
The household non-performing loan ratio remained relatively high at 10.3%, indicating that the improvement in financial assets had not removed repayment pressures among indebted families.
Debt owed by non-financial companies also increased. Outstanding bank loans to businesses reached 657 billion dirhams, representing 39% of GDP, while corporate bond debt stood at 124 billion dirhams.
The non-performing loan ratio for corporate borrowers remained at 11.2%.
An analysis of 116,406 companies showed that medium- and long-term financial debt declined to 43% of permanent capital in 2024, from 46% a year earlier.
Short-term financial debt stood at around 11% of company turnover, slightly below the previous year’s level.
Payment periods between businesses continued to improve, extending a trend observed since 2021.
Average customer payment times fell to 98 days of turnover in 2024 from 123 days in 2023, while average supplier payment periods declined to 70 days of purchases from 80 days.
The report said disparities remained significant depending on company size and sector, despite the overall improvement in payment behaviour.
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