"Despite the context of the crisis, the consolidation of households' financial wealth continued in 2020, with nearly an additional 43 billion dirhams compared to the previous year", said BAM in its latest report on financial stability, published jointly with the Insurance and Social Security Control Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC).

"Overall, the financial wealth of households has not deteriorated in this period of crisis and has even increased in 2020, with a strengthening of their bank deposits," said the report.

It thus totaled MAD 876 billion, made up in its large proportion of bank deposits up to 82.7%, followed by investments in life insurance and assets in the form of transferable securities, with respective shares of 10.8% and 6,5%, noted the same source.

In addition, the report showed that the financial wealth of households posted a very slight decline in 2020, with growth of 5.1% after 5.3% a year earlier and 5.5% on average over the past five years.