Crédit du Maroc (CDM) recorded net banking income of 2.3 billion dirhams in 2018, up 5.4 percent year on year.
This evolution comes from the growth of the net interest margin, to 1.78 billion dirhams (+4.2%), and margin on commissions, to 400.7 million dirhams (+9.3%) . Gross operating income increased by 5.5% to more than 1 billion dirhams, including a 5.3% increase in general operating expenses, impacted by exceptional charges and non-recurring.
Thus, the group’s profit rose sharply (+61%) to MAD 589.2 million. Excluding exceptional items related to the new headquarters project, net income group share increased by 39.3% to 508.8 million dirhams. Note that the bank will distribute a dividend of MAD 8 per share against MAD 7 for the 2017 financial year.