Consolidated net banking income (NBI) for Société Générale Maroc reached 1.4 billion dirhams (MMDH) in the first quarter (Q1-2024), marking a 5.21% increase compared to the same period last year.
This revenue growth reflects improved performances across the Group’s business lines and subsidiaries, alongside its dynamic support for clients across various sectors of the national economy, as stated in the bank’s quarterly report.
As of March 31st, the Group’s social NBI stands at 1.3 MMDH, up by 5.99%. Furthermore, Société Générale Maroc demonstrates its ability to maintain a balance between investment initiatives and financial discipline, with a limited increase of 1.50% in social overhead costs and 0.12% in consolidated costs.
In this context, operating gross income shows a 8.44% increase in social and 10.53% in consolidated figures.
Q1-2024 also witnessed continued improvement in risk management performance, resulting in a 20.22% decrease in net risk cost for the social sector. On a consolidated level, the net risk cost increased by 13.84%.
Simultaneously, Société Générale Maroc Group reports a consolidated net income of 359 million dirhams (MDH), up by 7.34% compared to 2023, and 347 MDH in the social sector, representing a 6.80% increase.
