In light of the successive increases in interest rates since the beginning of this year, bringing the discount rate to 3.5%, total deposits in banks jumped by 2.5 billion dinars in 11 months, increasing their balance by 5.6% to 47 billion dinars at the end of last November, compared to a decline of 1% or 2.6 billion n 2021, before increasing interest rates, which amounted to 44.5 billion dinars, noting that interest rates reached their lowest level during the Corona crisis by 1.5%.
With the rise in interest rates and in light of the rise in oil prices, a local Arabic daily said, the government deposits increased during that period by a value of 900 million dinars, to rise from 2.8 to 3.7 billion dinars at the end of November, while private sector deposits jumped by a value of 2.1 billion to 36.5 billion dinars, while the deposits of government institutions declined from 7.2 to 6.7 billion.
On the other hand, the rate of credit growth in the banking sector continued to rise from December 2020 to November 2022, to record 8.4%, exceeding its levels in 2021, which amounted to 7.1%, bringing the total credit facilities granted to residents and non-residents from 48.2 billion dinars in 2021 to 52.3 billion at the end of last November.
On the other hand, the majority of economic sectors achieved growth in the credit facilities they granted, as the total personal facilities increased by 8.8% from 16.9 to 18.4 billion dinars, due to the increase in consumer loans from 1.8 to 1.9 billion dinars in 11 months, while housing loans increased from 14.3 to 15.7 billion dinars, and loans granted for the purchase of securities increased from 2.8 to 3.2 billion dinars.
The money supply in its broad sense rose by 1.2% last November on a monthly basis, to reach 382 billion dinars, while the total balances of local banks’ demands on the Central Bank in dinars, represented by “Central” bonds, decreased by 2.3%, to record 3.6 billion dinars.
The total assets of local banks rose 0.5% to record 84 billion dinars, while the net foreign assets of local banks rose 2.7% to 104 billion dinars, while time deposits with the Central Bank decreased last November by about 55.3% to reach 12 billion dinars.
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