The Board of Directors of Cih Bank met on Thursday March 10 to examine the activity and the social and consolidated results as of December 31, 2021. The consolidated NBI amounts to 3,106.6 MDH, increasing by 12. 6% compared to December 2020. This change is mainly due to the 22.2% increase in the net interest margin following the growth in commercial activity.
For the 2021 financial year, the group is continuing its commercial momentum driven by the continuous development of digital-oriented offers, the satisfaction of customer needs and the extension of its network with 6 new branches and 63 ATMs. and additional deposits.
Commercial results (consolidated figures)
With a net inflow of 9.2 billion dirhams, customer deposits increased by +17.1% compared to December 2020, and amounted to 63 billion dirhams. On an individual basis, these deposits essentially consist of those of CIH Bank up to 57.5 billion dirhams and those of Umnia Bank up to 3 billion dirhams.
Annual inflows in sight resources increased by +21.3% compared to 2020, thus constituting 78% of overall inflows.
Up by 18.1% compared to December 2020, consolidated credit outstandings reached 74.4 billion dirhams. On an individual basis, Cih Bank’s loans amount to 60.2 billion dirhams, while Sofac and Umnia Bank contribute respectively up to 9.4 billion dirhams and 4.8 billion dirhams.
Representing 56.4% of outstanding consolidated loans, loans excluding real estate recorded an increase of 28% compared to December 2020, to stand at 41.9 billion dirhams. The bank is thus consolidating its policy of diversifying customer jobs.
The total consolidated balance sheet stands at 106.4 billion dirhams, up 18.8% compared to December 2020.
Profitability indicators
Consolidated NBI amounted to 3,106.6 MDH, up 12.6% compared to December 2020. This change is mainly due to the increase in the net interest margin of 22.2% following the growth in commercial activity.
In social terms, Cih Bank’s net banking income stands at MAD 2,506.2 million, up 11.1% compared to December 2020.
The cost of risk in consolidated amounts to 456.5 MDH showing a decrease of -54.2% compared to December 2020. Thus, the cost of risk rate is 0.59% against 1.51% one year previously. In social terms, the cost of risk amounts to 370.8 MDH, a decrease of -54.8% corresponding to a cost of risk rate of 0.56% against 1.22% in December 2020.
The group share of net income amounted to 630 million dirhams at the end of December 2021 against 80.7 million dirhams at the end of December 2020.