The Moroccan Bank for Commerce and Industry (BMCI) presented, Wednesday, March 27, its financial statement for the year 2018 and posted consolidated net banking income slightly up 0.4% to 3.03 billion dirhams ( $ 313.9 million) in 2018 compared to MAD 3.02 billion ($ 313.9 million) in 2017.
The consolidated net profit of the bank stabilized at 562 million dirhams (58.2 million dollars). “The increase in the consolidated net banking income is due to the growth in the results of the market operations of 39.1% with a slight decrease in the interest margin and the margin on consolidated commissions”, explains Laurent Dupuch, president of the directory of BMCI.
Similarly, the Moroccan subsidiary of BNP Paribas, is pleased with “a beautiful commercial dynamic” in terms of volumes of credits that have increased by 7.7% from 48.8 to 52.5 billion dirhams.
Consolidated customer deposits increased by 6.2% to 46.1 billion dirhams at the end of December 2018 and unpaid resources represent more than 68%. Commitments by consolidated signature amounted to MAD 21.8 billion, marking an increase of 15.7% compared to 2017 and reflecting a good momentum on the Trade activity.
During the period under review, consolidated management fees remained under control and amounted to MAD 1.61 billion, while the consolidated cost / income ratio was 53.3%. Consolidated gross operating income came to 1.41 billion dirhams, a slight decrease of 1.1% compared to 2017 and the consolidated net profit amounted to 562 million dirhams, up 2 percent. 9% compared to the previous year.
