Moroccan households’ financial assets continued to strengthen in 2025, reaching 1.192 trillion dirhams, while household borrowing recorded its fastest annual growth since 2012, according to the 2025 Financial Stability Report released on Monday, July 27, by Bank Al-Maghrib, the Moroccan Capital Market Authority (AMMC), and the Insurance and Social Welfare Supervisory Authority (ACAPS).
The report said households’ financial assets increased by 7.5% in 2025, after rising 8.1% a year earlier. It attributed the growth to increases across all components of household financial wealth, reflecting stronger financial savings capacity.
The report also noted a growing diversification of household investments toward market-exposed assets, although bank deposits remained the dominant component of household financial wealth.
Bank deposits stood at 935 billion dirhams, while investments in securities rose by 40.1% to 114 billion dirhams, according to the report.
Read also : Central bank report: Moroccan banks post stronger profits but urged to remain cautious
At the same time, household debt climbed to 456 billion dirhams, equivalent to 27% of GDP, marking its strongest annual increase since 2012. The report attributed the rise to the continued growth of housing and consumer loans. Despite the increase in borrowing, the household default rate remained relatively high at 10.3%.
The report also found that borrowers who took out or renewed loans in 2025 carried higher debt burdens than a year earlier. The average debt-to-income ratio rose to 36%, compared with 34% in 2024, while the share of borrowers whose debt repayments exceeded 40% of their income increased to 38%.
The findings were published in the report’s chapter on the financial situation of non-financial agents, which assesses the financial position of Moroccan households and businesses as part of the country’s overall financial stability outlook.
