CIH Bank continues its upward trend, showing remarkable growth by the end of the first half of the year. Client deposits have reached 76.2 billion dirhams, reflecting a net inflow of 2 billion dirhams—a 2.7% increase since December 2023. On an annual basis, the bank has collected 6.5 billion dirhams, marking a robust 9.3% rise. A significant portion of these deposits, 67.4 billion dirhams, comes from CIH Bank itself, while Umnia Bank contributed 5.3 billion dirhams, boasting a 9% increase over the same period.
Boost in consolidated loans
Consolidated loans surged to 92.3 billion dirhams, up by 1.7% since December 2023. On a yearly basis, loans to clients increased by 5.3%. Individually, CIH Bank’s loan portfolio stands at 69.2 billion dirhams, with Sofac and Umnia Bank contributing 15.4 billion and 7.7 billion dirhams, respectively.
Bank’s net banking income (NBI) sees healthy growth
The group’s consolidated net banking income (NBI) climbed to 2.3 billion dirhams, up 5.2% compared to June 2023. This rise is largely driven by a 4% improvement in net interest margins and strong market activity. On an individual level, CIH Bank recorded an NBI of 2 billion dirhams, a 4.7% increase.
Solid net results
The consolidated cost of risk reached 517.2 million dirhams, showing a modest increase of 1.9%. However, the cost-of-risk ratio slightly improved, dropping from 0.96% to 0.90% over the year. The group’s net income amounted to 442.2 million dirhams, representing a 7.1% growth compared to June 2023, while the standalone net profit reached 470.3 million dirhams, up by 11.8%.
