2023-11-18 18:00:04
The net banking income (NBI) of the BCP group (Banque Centrale Populaire) stood at 17.7 billion dirhams (MMDH) at the end of September 2023.
This NBI reflects, on the one hand, an improvement in the interest margin and the margin on commissions which increase respectively by 6.7% and 5.2% and on the other hand, the continued recovery of the result of activities market, indicates a press release from the group, whose Board of Directors met on Wednesday under the chairmanship of Mohamed Karim Mounir to examine the evolution of the activity and close the accounts as of September 30, 2023.
During the first nine months of this year, the Moroccan economic context evolved towards a recovery phase, characterized by a deceleration of global inflationary pressures and an improvement in national economic growth, driven in particular by the rebound in agricultural value added, indicates the press release which is published on the website of the Moroccan Capital Market Authority (AMMC).
In this context, reports MAP, the outstanding consolidated gross credits of the BCP fell by 1.4% to MAD 303.4 billion, while consolidated deposits stabilized at MAD 367.5 billion.
Continuing its prudent provisioning policy, and as part of hedging the sovereign risk of certain countries of presence in the face of the deterioration of their economic and political environment, the group’s cost of risk increased from 14.6% to 3.3 MMDH.
General operating expenses, for their part, increased by 7.1% to MAD 8.2 billion, including the group’s contribution to the Special Fund for managing the effects of the earthquake.
The group’s consolidated net income thus stands at MAD 4.2 billion.
Overall and thanks to the mobilization of its resources, the BCP confirms the solidity of its fundamentals in an uncertain context, marked by an environment of rising rates and a deteriorating level of risk.
1700359309
#BCP #group #achieves #NBI #MAD #billion #September
