BMCE Bank of Africa (BBoA) closed the first half of the year on a good note. The banking group posted consolidated net banking income of 6.9 billion dirhams, up 7.4 percent year on year.
This evolution is explained by the improvement of the interest margin (+4.5%) and the market transactions which increased by 63%, indicates the bank Net Income Group Share improved by 4% to MAD 1.17 billion, of which 41% was generated internationally.
At the end of June, the group also managed to contain its overhead costs which increased slightly (+2.8%) thanks to the workload rationalization project. The cost of risk rose significantly by 34% to 872 million dirhams.