Société Générale Maroc closed 2024 on a strong note, reporting growth in net banking income and an increase in customer deposits, despite a slight decline in outstanding loans.
As of December, net banking income stood at 5.095 billion dirhams on a standalone basis and 5.807 billion dirhams on a consolidated basis, reflecting increases of 5.63% and 4.17%, respectively, compared to the previous year. This performance highlights the bank’s solid operations and the resilience of its subsidiaries, demonstrating its ability to adapt to an evolving economic landscape.
Customer deposits saw notable growth, rising by 5.61% on a standalone basis and 8.25% on a consolidated level, reaching 85.175 billion and 94.485 billion dirhams, respectively. This increase was driven by strong momentum in both the individual and corporate segments, underscoring the trust clients place in the bank.
On the lending side, outstanding loans saw a slight decline, totaling 79.287 billion dirhams on a standalone basis (-1.02%) and 93.973 billion dirhams on a consolidated basis (-0.36%). This decrease reflects a more cautious approach to lending in a complex economic environment but has not hindered the bank’s overall activity.
Through these results, Société Générale Maroc reaffirms its ability to sustain growth and strengthen its market position. The rise in net banking income and customer deposits underscores the resilience of its business model and its commitment to supporting clients in an ever-changing economic climate.
