The financial institution specializing in consumer credit, Axa Credit, recorded a significant increase in its net income at the end of the first half of 104% compared to the first half of last year.
Axa Crédit performed well at the end of the first half of the current year. In view of its financial statements, the financial institution specializing in consumer credit recorded a net result of 2.14 million dirhams, ensuring a significant increase of 104.12% compared to the first half of 2021. of its net banking income, Axa Crédit recorded a total of 59.43 million dirhams during the first six months, up 14.31%.
For their part, the operating expenses of the credit institution increased by 11.38%, to 33.333 MDH, once morest 29.926 MDH recorded in the first half of last year. This increase is in fact due to that of personnel costs and external costs. The interest margin thus stood at 38.94 MDH, once morest 38.07 MDH at the end of June 2021, up 2.29%. Margins on commissions, for their part, experienced a significant increase of 49.42%, from 16.65 MDH to 24.89 MDH.
Outstanding loans on the rise
Axa Crédit’s commercial activity, for its part, showed improved performance. Precisely, at the level of customer outstandings, it should be noted that Axa Crédit recorded cash loans of 236.77 MDH at the end of June, while the establishment recorded a total of 219.98 MDH at the end of December 2021. , representing growth of 7.63% over six months.
Outstanding consumer loans stood at 1.53 billion dirhams, once morest 1.45 billion dirhams at the end of December 2021, an increase of 5.72%. As for the outstanding amount of equipment loans, while it stood at 3.38 MDH at the end of last year, it recorded a significant rebound of 44.78%, six months following, amounting to 4.9 MDH.
At the end of June 2022, real estate loans granted by Axa Crédit reached an outstanding amount of 10.7 MDH, whereas it was 10.2 MDH at the end of December, thus ensuring an increase of 4.08%. Outstanding debts, they increased by 5.93%, to 57.53 MDH. It should be noted that, according to figures at the end of June from the Professional Association of Finance Companies (APSF), the gross outstanding balance of consumer credit is 4.91 billion dirhams, up 8.2% compared to at the same time in 2021.
Sanae Raqui / ECO Inspirations
