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BCP: 9.1% of consolidated net income in Q3-2018

Consolidated net income of the Banque Centrale Populaire Group (BCP) amounted to 2.6 Billion MAD in the third quarter of 2018, up 9.1% compared to the same period a year earlier.

This performance is driven by business growth and the significant improvement in the cost of risk, explains the BCP in a note on its quarterly results, published on the website of the Casablanca Stock Exchange.

This note also shows a 3.3% increase in the Group’s net banking income at the end of September 2018, supported by a good performance of the credit collection and distribution activity, in Morocco as well as internationally.

The group, which reaffirms its support for the financing of the economy in all of its presence markets with an additional credit of more than  4.8 Billion MAD in Morocco, also shows a growth of more than 5.3 Billion dirhams deposits, registering a significant improvement in the cost of its resources, the source said.

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