Moroccan brokerage firms recorded a fall in their overall net income in the first half of 2018, notes the first “review of the capital market” published by the Moroccan Capital Market Authority (AMMC).
These data show, for these 17 establishments, an overall net profit of 4.5 MDH (476.8 thousand dollars) during the period under review, compared with 23.6 million dirhams (2.5 million dollars) in the same period. period in 2017.
A drop in performance that comes against a backdrop of a decline in sales of nearly 32%, estimated this first quarter at $ 5.2 million against $ 7.7 million in 2017, down from the decline of 27% volume on the central market of the Casablanca Stock Exchange at $ 968.5 million. A situation that did not prevent the stock market intermediaries to increase their equity from $ 1.6 million to $ 60.3 million.
According to the AMMC, at the end of March this year, the brokerage firms had 7,478 clients, including a majority of Moroccan natural persons (79% of the total number), almost stagnant compared to the first quarter of 2017. They hold 136,166 securities accounts, down 3% from the same period of the previous year.
For collective investment management companies, the net result for the year 2017 amounts to 46.5 million dollars, up 4.6% compared to the end of 2016, due to the increase in turnover. 12.3% to $ 137.6 million in 2017. Management companies increased their equity by 7.9% to $ 82.6 million, of which $ 59 million subsidiaries of banks and insurance companies and $ 23 million for non-subsidiaries.
