The net result of the Real Estate and Tourism Credit Bank Group’s share amounted to 554.7 million dirhams at the end of September 2023, compared to 549.2 million dirhams during the same period a year ago, that is, a slight increase of 1 percent.
The bank indicated in a report on its financial results that the net banking income, for its part, rose to 3.32 billion dirhams, an increase of 32.6 percent compared to the end of September 2022.
The same source explained that this development resulted mainly from an increase in the net interest margin by 10.6 percent and the performance of market activities during the end of September 2023 compared to the same period in 2022.
On the social level, the net banking output amounted to 2.77 billion dirhams, an increase of 38.4 percent, and the cost of consolidated risks amounted to 747.4 million dirhams, recording an increase of 168.2 percent compared to September 2022.
Therefore, the average cost of risk at the end of September 2023 amounted to 0.85 percent, compared to 0.34 percent a year ago.
Although this increase reflects the change in the “mix exposition” level following the development of business financing, it remains an increase within the sector average.
On the social level, the cost of risks increased to 589.3 million dirhams, compared to 311.3 million dirhams, and the cost of risks reached respectively 0.76 percent during September 2023 compared to 0.46 percent during September 2022.
The consolidated net result reached 596.7 million dirhams at the end of September 2023, an increase of 2.3 percent compared to the end of September 2022.
In a statement, the bank confirmed that it “continues its strategy to develop and diversify the portfolio and comply with the framework of keeping pace with the growth of the national economy and its major structured projects.”