Wafasalaf has delivered robust financial and operational performance through the third quarter of 2024, highlighting the success of its strategic approach and ability to adapt to rising credit demand.
By the end of September 2024, Wafasalaf’s gross outstanding loans reached 18.15 billion dirhams, reflecting an 8.51% increase since the beginning of the year. This growth was fueled by a surge in personal and auto loan demand, supported by an effective commercial strategy and the expansion of its customer segments.
Net credit production in Q3 2024 showed a remarkable 30.90% rise compared to the same period in 2023, bringing the annual total to 5.655 billion dirhams, up 17.62%. Seasonal factors, such as the back-to-school period, played a key role in driving this dynamic growth.
Net banking income rose to 963 million dirhams, surpassing the 901 million dirhams recorded by September 2023. This increase was driven by continued improvements in interest margins and commission growth.
Debt owed to credit institutions increased by 29.94%, reaching 6.358 billion dirhams by the end of September. Meanwhile, issued debt securities saw a modest 0.30% rise, totaling 5.678 billion dirhams.
Wafasalaf continues to focus on diversifying its activities, forging new partnerships, and enhancing the range of services it offers to customers. These initiatives aim to sustain its market leadership, adapt to sectoral changes, and ensure long-term profitability.
With these solid results, Wafasalaf reaffirms its ability to meet the growing demands of the credit market while fostering sustainable and balanced growth.
