2023-11-21 18:01:49
The net banking income (NBI) of the Municipal Equipment Fund (FEC) stood at 497 million dirhams (MDH) at the end of September 2023, up almost 2% compared to the end of September 2022.
This increase is explained by the combined effect of the level of operations and the quality of the portfolio to date, despite a context marked by the increase in the cost of refinancing the institution on the national and international markets, indicates the FEC in a press release on its quarterly indicators.
For their part, loan commitments reached nearly 3.6 billion dirhams (billion dirhams) at the end of September 2023, up more than 37% compared to the same period last year, reports MAP.
This significant development, of an exceptional nature, is essentially linked to the commitment of two loans to finance a strategic project of national interest, aimed at combating water stress and mitigating the impacts linked to climate change, specifies the same source.
This financing benefited all categories of local authorities, with a strong predominance of Regional Councils which represented 88% of the overall volume of loan commitments at the end of September 2023, thus confirming their rise in the structure of loan commitments at the end of September 2023. over the last few years.
For their part, loan disbursements stood at more than MAD 3 billion at the end of September 2023, up 70% compared to the same period of 2022, and contributed to the financing of several projects carried out by communities. territorial areas in different sectors of intervention, including in particular the implementation of the aforementioned strategic project.
Through this new financing, customer receivables mark an increase of more than 5% compared to the same period last year, to stand at more than MAD 27 billion at the end of September 2023.
Financial debt amounted to MAD 23.559 billion at the end of September 2023, compared to MAD 21.684 billion during the same period a year previously.
Furthermore, the analysis of the environmental and social (E&S) rating carried out on the 36 projects financed by the bank until the end of September 2023 reveals a strong commitment by the institution aimed at contributing to the sustainable development of territories.
Indeed, around 92% of these projects are in “categories D and C”, reflecting minimal and easily controllable risks. This highlights the bank’s diligence and competence in managing issues related to E&S risks, affirming its active role in promoting projects that are both sustainable and beneficial for target populations.
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