The state's banking sector continued its Arab and regional leadership with assets valued at 5.4136 trillion dirhams at the end of January 2026, compared to 5.340 trillion dirhams at the end of December 2025, marking a monthly increase of 73.6 billion dirhams, equivalent to a 1.4% growth. Data released by the Central Bank yesterday showed a growth in bank deposits during the monitored month, reaching 3.3368 trillion dirhams at the end of January 2026, compared to 3.307 trillion dirhams at the end of December 2025, a monthly increase of 29.8 billion dirhams, equivalent to a 0.9% growth. The Central Bank attributed the rise in total deposits to a 1.2% increase in residents' deposits, which reached 3.0461 trillion dirhams, while non-residents' deposits decreased by 2.4% to 290.7 billion dirhams. According to the Central Bank's data, total credit increased by 1.1% to reach 2.5982 trillion dirhams at the end of last January, compared to 2.5703 trillion dirhams, a monthly increase of 28 billion dirhams. The Central Bank stated that the growth in total credit is due to a 27.9 billion dirham increase in domestic credit, driven by a 0.6% increase in credit to the private sector and a 2.5% increase in credit to the government sector. The data also indicated a 0.6% increase in the state's monetary base at the end of last January, reaching 900.8 billion dirhams compared to 895.7 billion dirhams at the end of December 2025, a monthly increase of 5.1 billion dirhams. In turn, the narrow money supply (M1) rose by 0.9% to reach 1.081 trillion dirhams at the end of January 2026, compared to 1.071 trillion dirhams at the end of December 2025, due to a 2.7% increase in currency outside banks and a 0.6% increase in cash deposits. Additionally, the broad money supply (M2) increased by 1.3% to approximately 2.79 trillion dirhams, supported by a 25.3 billion dirham increase in quasi-money deposits. Both the corporate sector and individual deposits contributed about 0.5 percentage points each to the total growth, with monthly increases of 0.9% and 1.5%, respectively. Deposits linked to the government grew by 3.6%, contributing about 0.4 percentage points to the total growth of the M2 money supply, supported by an increase in demand deposits and dirham savings deposits. The broad money supply (M3) rose by 1.4% to exceed 3.301 trillion dirhams at the end of January 2026, driven by the growth in M2 and a 2.2% increase in the government sector's deposits to 511.7 billion dirhams, contributing about 0.3 percentage points to the total growth in the M3 money supply. The data also showed that the Central Bank's total foreign assets reached 1.084 trillion dirhams at the end of last January, compared to 1.058 trillion dirhams at the end of December 2025, a monthly increase of 26 billion dirhams. According to the Central Bank, these assets include bank balances, deposits with foreign banks amounting to 285.5 billion dirhams, foreign securities amounting to 740.9 billion dirhams, and other foreign assets amounting to 58 billion dirhams. Statistics also indicated that the Central Bank's total balance sheet on the assets side reached 2.1192 trillion dirhams at the end of last January, matched by liabilities of the same value. The banking sector's total assets stood at 5.4136 trillion dirhams at the end of January 2026.
