The first half of 2022 ends in the green for AXA Crédit, which posted net banking income of 59.4 million dirhams, up 14% compared to the first half of 2021.
A performance mainly driven by a good behavior of the interest margin and a double-digit growth in production in a market where average growth does not exceed 2%.
With a controlled level of risk, given the general context of rising arrears, AXA Crédit posted a net profit of 2.14 million dirhams, double what was posted in the same period of the previous year, ie 1 million dirhams.
Actor of financial inclusion
Since its successful restructuring, AXA Crédit has been able to expand its business and display fundamentals that meet industry standards. This is what probably put it in the sights of the start-up Chari.ma which announced, at the beginning of the year, its plan to acquire AXA Crédit. Chari operates a mobile application that connects small retailers in its two countries of presence (Morocco and Tunisia) with multinationals and local manufacturers, allowing them to order and obtain products in less than 24 hours. With this announced merger, the couple AXA Crédit and Chari will position themselves as a key player in financial inclusion with a BNPL offer (Buy Now, Pay Later).
AXA Crédit could offer financing solutions to Chari’s B2B clients, who are currently outside the structured financing circuit. The latter will, in turn, be able to benefit their customers and end consumers, thus fully playing the financial inclusion card.