2023-05-19 21:50:00
The net income group share (RNPG) of the Banque centrale populaire (BCP) amounted to 610 million dirhams (MDH) in the first quarter (Q1) 2023. For its part, the consolidated net income amounted to 855 MDH during the same period, the group said in a press release on its quarterly indicators.
At the same time, the Group’s cost of risk fell by 2.5% to 874 million dirhams, confirming the improvement trend that began following the dissipation of the pandemic crisis. Despite the negative effect of the rise in the yield curve on the result of market activities, the net banking income of the BCP group remained at 4.8 billion dirhams (MMDH) at the end of March 2023, against 4.9 billion dirhams a year earlier.
This performance was made possible thanks to the favorable orientation of the “Core Banking Business”, whose NBI strengthened by 6.1% to 4.5 billion dirhams, notes the Group.
In terms of activity indicators, the group’s resources recorded an additional collection of 292 MDH in the first quarter of 2023, notes the same source.
For its part, the gross outstanding balance of consolidated customer loans fell by 2%, compared to the end of 2022, to stand at 301.6 billion dirhams, the group points out, explaining this withdrawal mainly by the drop in loans from cash flow in Morocco in a context of declining international commodity prices.
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%, indicates the Bank, specifying that the Group’s subsidiaries in sub-Saharan Africa achieved a 13% increase in their NBI for the first three months of 2023.
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