43.4 billion dirhams, an increase in bank funds for economic activities within 3 months

The Central Bank revealed that the bank’s funds operating in the country for various economic activities, including government economic activities, recorded 43.4 billion dirhams within three months, as it increased from 1.816.4 trillion dirhams, at the end of last June, to 1.859.8 trillion dirhams by the end of September 2024, indicating the strength of the economy and the growing economic, commercial and investment activities in the country.

The latest statistics of the “Central” on financing economic activities, which are issued by a quarterly, showed that bank financing operating in the country for various economic activities included 12 major activities, explaining that the high financing included nine activities: mining and quarries, industry, real estate and construction, trade comprehensive wholesale and retail trade, transportation, storage and communications, government economic activities, personal loans, personal loans Consumerism, personal loans for business purposes, and the item of “other economic activities”, while the decrease of three activities included: agriculture, electricity, gas, water, and financial institutions.

According to statistics, transportation, storage and communication funds have jumped from 93.7 billion dirhams to 102.2 billion dirhams, an increase of 8.5 billion dirhams, while bank financing for trade, including wholesale and retail trade, increased from 168.1 billion dirhams at the end of last June to 169.2 billion dirhams, at the end of last September, an increase of 1.1 billion dirhams.

The bank’s financing for government economic activities increased from 185.7 billion dirhams to 188.4 billion dirhams, an increase of 2.7 billion dirhams, while the value of personal loans for consumer purposes jumped from 460.4 billion dirhams to 484.8 billion dirhams, an increase of 24.4 billion dirhams, while the value of personal loans for business purposes increased from 87.1 billion dirhams to 89.4 billion dirhams with a growth of 2.3 billion AED.

Meanwhile, industrial activity financing increased from 93.9 billion dirhams at the end of last June to 94.8 billion dirhams in September, growing 900 million dirhams.

Food, beverages, chemicals, chemical products, petrochemical and petroleum products and essential metal products, especially aluminum, as well as paper and paper products, witnessed an increase in their financing, while textile funds, leather products, furniture, other wood products, manufactured metal products, equipment, devices, and the rest of the rest of the other manufactured products, witnessed declines in financing.

The construction sector funds also witnessed an increase during the same period from 268.7 billion dirhams to 269.2 billion dirhams, with an increase of 500 million dirhams, while the item of “other economic activities” witnessed an increase in funds from 181.9 billion dirhams to 185.6 billion dirhams, with a growth of 3.7 billion dirhams.

In turn, the mining and quarry sector funds also increased from 17.4 billion dirhams to 19.2 billion dirhams, with a growth of 1.8 billion dirhams.

As for the financing of the agricultural sector, it recorded a decrease from 2.5 billion dirhams to 1.8 billion dirhams, with a decline of 700 million dirhams. The electricity, water and gas activity also witnessed a decline in bank financing during the same period, as these funds decreased from 53.2 billion dirhams to approximately 51.5 billion dirhams, a decrease in 1.7 billion dirhams, while the funds of financial institutions decreased slightly from 203.8 billion dirhams to 203.7 billion dirhams.

Consumer personal loans jumped from 460.4 billion dirhams in June, to 484.8 billion dirhams at the end of September.