Societe Generale Morocco’s Board of Directors published the bank’s second quarter financial results. Data that shows a good performance between April and June 2022.
According to the financial report, the outstanding loans of the bank to customers amounted to more than 90.74 billion dirhams as of June 30, 2022, recording a growth of 3.20% compared to the same period of the year 2021. on a consolidated basis and 4.29% on a corporate basis to more than 76.24 billion dirhams with net production of nearly 5 billion dirhams.
Net banking income (NBI), for its part, recorded increases of 0.22% on a corporate basis in connection with the increase in commissions, and more than 1.6% on a consolidated basis thanks to the positive contribution of the subsidiaries on commissions and the revaluation of IFRS securities, indicates the same source.
“Societe Generale Morocco is continuing the agile deployment of its new ambitious strategic plan “Joussour 25”, capitalizing on post-crisis lessons in order to make major changes to its new relational and operational models”, explains the Group.
In addition, customer deposits are down slightly on a consolidated and corporate basis. They stood respectively at more than 82.48 billion dirhams and more than 74.41 billion dirhams at the end of June 2022.
It should be noted that the Bank experienced a drop of 35.92% in CNR on a social basis and 44.13% on a consolidated basis due to good risk management in 2022 despite the stressed economic context.
