Al Barid Bank has reported a strong financial performance for the fiscal year ending December 31, 2024, with significant growth across all key metrics. The bank’s Supervisory Board met on March 28, 2025, to review the results, which reflect a year of robust momentum and strategic gains.
Net banking income climbed to 3.10 billion dirhams, representing a 36% jump from the previous year. This impressive rise was driven by a combination of factors, including a 19% increase in net interest margin, a 10.4% gain in fee-based income, and a particularly strong performance in market operations, which surged by an exceptional 91.6%.
Operating income before tax nearly doubled, soaring by 147% to reach 1.5 billion dirhams. Meanwhile, net profit rose sharply by 161%, totaling 575.5 million dirhams. The Group’s share of net profit came in even higher, at 871.38 million dirhams—a remarkable year-on-year increase of 196%.
On the commercial front, the bank continued to expand its savings base. Demand deposits rose by 11%, totaling 34.3 billion dirhams, while savings accounts increased by 4.2% to reach 36.5 billion dirhams. This upward trend solidifies Al Barid Bank’s leadership position in the Moroccan banking sector, where it now holds a market share of 19.63%.
Lending activity also showed solid growth. Housing loans grew by 8.4%, while consumer credit posted a 9.5% gain, signaling ongoing confidence among retail clients and a healthy credit environment.
In addition to financial achievements, the bank also announced a refreshed leadership structure. Al-Amine Nejjar has been appointed President of the Management Board, joined by M’hamed El Moussaoui and Mohammed Kettani as Managing Directors. Mounya Dinar takes on the role of Deputy Managing Director overseeing Capital Markets, Finance, and Management Control, while Abderrahmane Benhayoun Sadafyne steps in as Deputy Managing Director for Retail Banking.
