The Banque Centrale Populaire (BCP) Group has once again proven its resilience, revealing strong financial results for the first nine months of 2024. During a meeting of its Board of Directors, chaired by Naziha Belkeziz, the group detailed its performance, showcasing its ability to adapt and thrive despite a challenging global economic environment.
The group’s net banking income reached 19.6 billion dirhams, reflecting an impressive 11 percent growth compared to the same period last year. This increase was driven by higher interest and commission margins, which rose by 2.2 percent, and a remarkable 50 percent surge in market activities, which generated 5 billion dirhams.
On the operational side, BCP demonstrated rigorous cost management. General expenses were maintained at 8.3 billion dirhams, resulting in an improved operating cost ratio of 42.3 percent, down 4.4 points. However, the group faced a 30.8 percent rise in its cost of risk, which climbed to 4.3 billion dirhams. This increase reflects the economic pressures impacting certain regions where the group operates.
Despite these challenges, BCP achieved a consolidated net profit of 4.7 billion dirhams, marking an 11.7 percent rise. The group’s share of net profit increased by 10.1 percent, reaching 3.9 billion dirhams. These results highlight the group’s strong financial health and its ongoing commitment to supporting clients in Morocco and across international markets.
The latest performance reaffirms BCP’s ability to navigate a complex global economic landscape while maintaining its focus on growth and efficiency. With a clear strategy and robust fundamentals, the group continues to strengthen its position as a key player in the financial sector, both domestically and abroad. Through its disciplined approach and strong results, BCP remains a reliable partner for its clients and a vital contributor to economic stability.
