The credit situation in the 4th quarter of 2003

This sector showed positive growth of 8.8% with regard to the number of active customers, and 15.8% with regard to outstanding amounts.

The number of active customers grew from 282,533 to 307,523. All the institutions did not move ahead at the same pace. This quarter, growth of the Fondation du Crédit Agricole saw a threefold rise in the number of customers with growth of outstanding amounts of 66%. Inmae followed along the same lines with a rate hovering at 30%. (Both these associations remain at relatively limited levels of outstanding amounts).

The Fondation Banque Populaire saw a rise of 14.3% in active customers. Exceeding and doubling its previous average, it saw its outstanding amounts grow by 23 Mdhs. The global outstanding credits grew by 15.77% from 464.1 Mdhs to 537.3 Mdhs, i.e. a rise of 73 Mdhs (including 42 for AAA). New bank credits (BEI) granted to large associations, and to a lesser extent donations for rural credits and loans from the Social Development Agency, granted to regional associations contributed to this positive result.

To date, funds collected since the outset of microcredit activities in Morocco through December 31, 2003:

This sector was able to mobilize to date more than 380 Mdhs in donations. 300 Mdhs of the 380 Mdhs were loans from Moroccan and foreign banks, in particular the European Investment Bank and the Spanish cooperation organism (AECI). Operational subsidies from the outset amount to 137 Mdhs with international funding organizations leading the way.