Bank deposits reached MAD 1.423 trillion at the end of July, up 9.1% from a year earlier, according to the latest Bank Al-Maghrib data.
Households accounted for the bulk of that amount, with their deposits also rising 9.1% year on year to MAD 1.034 trillion.
Of that total, MAD 233.9 billion was held by Moroccans living abroad.
Private non-financial companies recorded stronger growth, with deposits climbing 11.7% to MAD 255.3 billion.
Term deposit rates fall
Interest rates on term deposits moved lower, BAM said.
The rate on six-month deposits fell by six basis points to 2.45%, while the rate on 12-month deposits dropped 19 basis points to 2.58%.
The minimum interest rate on savings accounts, meanwhile, has been set at 1.82% for the second half of 2026, up 21 basis points from the previous six months.
