The profits of Othman Benjelloun’s “Bank of Africa” reach 12.6 billion dirhams by the end of September this year – Today 24

The consolidated net banking product of the “Bank of Africa” increased by 11 percent to 12.6 billion dirhams at the end of last September, driven by an increase in the commission margin by 18 percent and the interest margin by 8 percent.

The bank indicated, in a financial statement, that the net result of the group’s share increased by 15 percent to two billion dirhams on September 30, 2023, compared to 1.8 billion dirhams at the end of September 2022, taking into account the exceptional impact of the donation related to the Al Haouz earthquake.

The group reported that the net result stabilized at the same level as last year of 1.4 billion dirhams, including the impact of the donation related to the earthquake, noting that excluding this donation, the net result increased by plus 8 percent, or 1.5 billion dirhams.

The same source indicated that consolidated loans rose by 2 percent to 214 billion dirhams, stressing that on the social level, loans allocated to customers rose by plus 4 percent to 133 billion dirhams.

The group’s customer deposits, in Morocco, decreased by 5 percent to 233 billion dirhams and 4 percent to 142 billion dirhams, respectively. However, the performance of non-reward resources in Morocco remained good, increasing by 3 percent.

He stated that an increase in capital was made during the month of October 2023 amounting to 626.3 million dirhams, including the issue premium, through merging reserves and through the issuance of 3 million 795 thousand and 815 new shares that were granted free of charge to shareholders.

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