Crédit du Maroc delivered a strong performance in 2024, with its net income attributable to the group soaring by 47.3% to reach 741 million dirhams. This impressive growth was driven by a 12.9% increase in consolidated net banking income, fueled by the solid commercial momentum of both the bank and its subsidiaries, as well as effective risk management, which saw a 10.5% decline in cost of risk.
All of the bank’s business segments contributed to this positive trajectory. Net interest margin grew by 9.1%, bolstered by the expansion of leasing and offshoring activities. Fee-based income also saw a 5.4% rise, benefiting from the development of cash management services and international trade operations. Meanwhile, market activities posted a remarkable 41.7% increase, supported by strong performances in bond and foreign exchange trading.
The group’s subsidiaries also played a key role in driving overall growth, with their contributions rising by 9.5% to generate total revenue of 202 million dirhams. Continuing its investment strategy, Crédit du Maroc allocated 351 million dirhams in 2024, primarily towards technological advancements.
On the risk management front, the bank maintained a non-performing loan coverage ratio of 88.8%, showing a slight decrease from the previous year. However, the rate of doubtful and disputed loans improved by 88 basis points, thanks to a 1.6% drop in non-performing loans, which now stand at 3.979 billion dirhams.
In a demonstration of its financial strength and commitment to shareholder value, the bank’s Executive Board will propose a dividend payout of 41.7 dirhams per share at the upcoming General Meeting.
