RCI Finance Maroc, operating under the Mobilize Financial Services brand, has reported a stellar performance for the first nine months of 2024. The company achieved 2.021 billion dirhams in new vehicle financing production by the end of September, reflecting a remarkable 25.9% increase compared to the same period in 2023.
Renault Maroc drives success
This growth is closely tied to the commercial success of Groupe Renault Maroc, which saw a 9.5% rise in vehicle sales over the same period. The third quarter was particularly notable, with RCI Finance Maroc producing 626 million dirhams in financing—a staggering 68.9% growth compared to Q3 2023. This leap underscores the impact of Groupe M-Automotive’s commercial rebound and RCI’s prudent risk management strategy, which balances financing volume with quality.
Net banking income surges
The company’s Net Banking Income (NBI) reached 407 million dirhams by the end of September 2024, an impressive 24.8% increase year-over-year. This growth stems from a strategic focus on delivering value through tailored financing and service offerings designed to meet the needs of the Moroccan market. This balanced approach has bolstered profitability while maintaining tight control over risks.
Improved loan portfolio and debt optimization
RCI Finance Maroc’s net loan portfolio grew by 4.8%, reaching 6.547 billion dirhams. The retail and corporate customer base accounted for 5.119 billion dirhams, up 3.1%, while the dealer network portfolio rose sharply by 11.5% to 1.428 billion dirhams, fueled by efficient stock management and strong sales from Renault and Dacia brands.
Financial discipline also shone through, as total debt fell to 4.8 billion dirhams by the end of Q3 2024. This reduction was achieved through optimized financial resource management and greater reliance on capital markets. Notably, 52% of refinancing now comes from bonds and finance company notes, compared to 43% a year ago. Bank debt decreased by 18%, standing at 2.352 billion dirhams.
Positioned for sustained growth
RCI Finance Maroc continues to solidify its position in the Moroccan market through a strategy that combines commercial expansion with robust risk management. By aligning its offerings with the evolving needs of consumers and leveraging the growth of Groupe Renault Maroc, RCI is well-poised to maintain its upward trajectory.
With its strong performance in 2024, RCI Finance Maroc is set to deepen its role in Morocco’s automotive financing ecosystem and contribute further to the sector’s development. The company’s mix of growth, adaptability, and financial acumen highlights a bright future ahead.
