2023-05-22 12:00:27
For the first three months of the year, the banking group was able to maintain its net banking income at a stable level.
Optimism : Referring to the BCP, the first quarter of 2023 was marked by the increase in the participation of International Retail Banking in the consolidated net banking income to stand at 30%.
“Confident in the solidity of its fundamentals, the BCP Group is approaching the rest of the 2023 financial year on an optimistic note, marked by a gradual adaptation to the environment of current rates, as well as the mobilization of all its resources in order to to reconnect with the Group’s performance and development dynamics”. It is in these terms that the Banque centrale populaire comments on the first achievements of the 2023 financial year.
For the first three months of the year, the banking group was able to maintain its net banking income at a stable level. It stood at 4.8 billion dirhams at the end of March 2023 once morest 4.9 billion dirhams a year earlier. A performance that comes in a situation marked by various uncertainties at the national and international levels. Commenting on this development, the BCP indicates in its financial communication that it was made possible thanks to the favorable orientation of the “Core Banking Business”, whose NBI strengthened by 6.1%, to 4.5 billion dirhams. “By contributor, the first quarter of 2023 was marked by the increase in the participation of International Retail Banking in consolidated NBI to stand at 30%”, explains the BCP in its press release. And to specify that “the Group’s subsidiaries in sub-Saharan Africa achieved a 13% increase in their NBI for the first three months of the year 2023”.
With regard to the cost of Group risk, we note a reduction of 2.5%, or 874 million dirhams, confirming the trend of improvement that began following the dissipation of the pandemic crisis. In addition, the consolidated net income amounted to 855 million dirhams. Similarly, net income, Group share amounted to 610 million dirhams. In terms of activity indicators, the BCP indicates that the Group’s resources recorded an additional collection of 292 million dirhams in the first quarter of 2023.
At the same time, the gross outstanding balance of consolidated customer loans fell by 2%, compared to the end of 2022. It thus stood at 301.6 billion dirhams. A contraction which is mainly explained by the decline in cash loans in Morocco in a context of falling international commodity prices.
1684815757
#net #banking #income #billion #dirhams #quarter #Today #Morocco
