2023-09-09 13:02:14
Lhe listed banks achieved net banking income up 12% in the first half, or 40 billion dirhams, according to calculations by Valoris Securities. “We can attribute this rapid growth in banking sector income to the beginnings of an accentuation in the recovery of economic activity, which was reflected in the increase in equipment loans. Furthermore, while awaiting the publication of the half-yearly accounts, we believe that Moroccan banks also benefited from the stability of the yield curve at the end of the first half, as well as from the recovery of the stock market over this period with an increase in the MASI at the end of June of 8.02%,” we can read in a comment made by the broker. But beyond the listed banks, all listed establishments publish growing indicators, also benefiting from the good performance of the interest margin following the increase in the key rate. Here are some of the banks that stood out during the first 6 months of the year.
Attijariwafa bank: NBI up 11.7% in the first half
The largest Moroccan banking group published consolidated net banking income of 14.6 billion dirhams, an improvement of 11.7% (+14.8% at constant exchange rates) compared to the same period of the year. last. This progression, welcomed by analysts, was driven by favorable commercial dynamics in terms of savings collection and financing of the economy. For its part, the bank’s net banking income in Morocco amounts to 8.3 billion dirhams for the first half of 2023 compared to 7.5 billion dirhams for the same period of last year, i.e. increase of 10.8%. Customer loans and deposits respectively recorded an increase of 6.3% to 255.8 billion dirhams and 7.9% to 286.6 billion dirhams, when smaller competing banks experienced a drop in their deposits.
CIH Bank: Strong growth in market activities
With a NBI exceeding one billion dirhams for the second quarter (+64.5%), the cumulative NBI of CIH Bank as of June 30, 2023 stood at 1,920.8 MDH, an increase of 40.9% compared to as of June 30, 2022. This change results from the growth in the interest margin, commissions and market activity. On a consolidated basis, the bank continues to grow with a total balance sheet of 124.2 billion DH at the end of the first half of 2023, an improvement of 6% compared to the end of December 2022. Customer deposits stand at 69.7 billion of DH at the end of June 2023, up 1.1% compared to the end of 2022. Customer loans were 87.7 billion in June 2023, up 5.1% compared to the end of 2022.
BCP: GNP up 12% in the first half
The horse bank’s net banking income stood at 11.7 billion dirhams, up 12%, driven by the positive evolution of the interest margin (+8%), the margin on commissions ( +3%) and the result of market activities (+50%). In terms of balance sheet indicators, the Group’s resources improved by 2.3 billion dirhams compared to the end of 2022, to 370.2 billion dirhams. For its part, the gross outstanding balance of consolidated customer loans stands at 302.5 billion dirhams, down 2%, linked to the decline in cash loans in a context of decline in the prices of raw materials at the international.
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