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BMCI: Boom in net income

The BMCI group’s consolidated net income stood at MAD 188 million (MDH) at the end of September 2021, up 73.7% compared to the same period a year earlier.

In terms of corporate accounts, net income stood at MAD 619 million, an increase of 110% compared to September 2020, indicates the group in a press release on its financial indicators, noting that excluding exceptional transactions, the net income in social security is up 4% compared to the end of September 2020. In addition, the consolidated net banking income (NBI) stood at 2.24 billion dirhams (billion dirhams) at the end of September 2021, down 2.6 % compared to the end of September 2020, mainly due to the decrease in the interest margin and the result from market operations of 1.6% and 11.9% respectively with an increase in the margin on commissions of 1 , 3%, explains the group.

Excluding exceptional transactions, consolidated NBI would be down by 1.3% compared to the end of September 2020, specifies the same source. In terms of the corporate accounts, net banking income amounted to MAD 2.14 billion, an increase of 2.9% compared to the end of September 2020. At the end of September 2021, the consolidated management costs amounted to, for their part, to 1.53 billion dirhams.

In addition, the consolidated cost / income ratio stood at 68.2% during the same period. The consolidated cost of risk, for its part, stood at 432 MDH, notes the bank, which notes that the consolidated pre-tax profit reached 341 MDH.

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