The banking group posted its financial achievements at the end of September. He noted an increase in his net banking income and a risk cost of MAD 771 million.
At the end of the first nine months of this unprecedented year, CIH Bank’s financial results were particularly marked by an improvement in the bank’s net banking income. It has thus accumulated more than 2.05 billion dirhams during this period, an increase of 13% over one year. In social terms, the NBI on that date stood at more than 1.67 billion dirhams, up 15.1% compared to the end of September 2019. In a financial press release published by CIH Bank, the latter explains that it has adopted a “Prudent and proactive approach to risk management” at both consolidated and social level. In this sense, adds the same source, the group noted a risk cost of MAD 771 million, a part of which is constituted prospectively in order to prevent the impacts of the pandemic, thus showing an increase of 202.7% compared to September 2019. In social terms, the cost of risk amounted to MAD 461.1 million, an increase of + 67.2%. In terms of activity indicators, CIH Bank posted a total balance sheet (consolidated basis) of MAD 88 billion at the end of the third quarter of 2020, up 17.1% compared to the end of December 2019. Customer deposits stood at 49, MAD 4 billion at that date, up 10.8% compared to the end of 2019 and customer loans amounted to MAD 59.5 billion, up 12.0% compared to the end of 2019. On a social basis, the total balance sheet reached MAD 77.6 billion at the end of September 2020, an increase of 18% compared to the end of 2019. Customer deposits stand at MAD 46 billion, an improvement of 11.3%, and customer loans reached MAD 49.3 billion, up 13.1% compared to the end of 2019.
Aida Lo / Eco Inspirations
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