Bank Of Africa: Net Profit Growth of 12% by End of September 2025

Bank Of Africa SA has reported a strong net profit growth of 26%, reaching 2 billion dirhams, while the group net profit increased by 12% to 3 billion dirhams as of September 30, 2025. The bank's revenues showed a significant rise of 19%, totaling 7.7 billion dirhams. This growth was supported by an increase in core business activities, with interest margin up by 17% and commission margin by 15%. Additionally, market activities grew by 15%, contributing to a consolidated net banking income increase of 9%, amounting to 15.3 billion dirhams by the end of September 2025. The operating efficiency ratio improved to 38.3% for the standalone entity by the end of September 2025, down from 42.8% in September 2024. The consolidated operating efficiency ratio also saw a decrease of 2.1 percentage points, settling at 43.4% at the end of September 2025. The gross operating profit rose by 23% for the standalone entity to 4.8 billion dirhams, and by 13% on a consolidated basis to 8.6 billion dirhams by the end of September 2025. The bank continued its efforts to clean up its credit portfolio at both the group level and in Morocco, which strengthened the consolidated coverage ratio to 69.7% by the end of September 2025, up from 68.5% in December 2024. The standalone coverage ratio improved to 66% in September 2025, compared to 64.1% at the end of December 2024. Commercial activity remained dynamic, with bank loans (excluding resales) increasing by 3%, or 6% year-on-year, reaching 146 billion dirhams. This growth was particularly driven by corporate loans, which saw a 13% increase in equipment loans, resulting in a market share gain of 13 basis points. Consolidated loans also grew by 2%, or 4% year-on-year, totaling 227 billion dirhams by the end of September 2025. Customer deposits (excluding repos) for the standalone bank increased by 3%, or 8% year-on-year, amounting to 164 billion dirhams, while consolidated deposits grew by 2%, or 8% year-on-year, reaching 262 billion dirhams. In Morocco, the growth in resources was particularly supported by non-interest-bearing deposits, which rose by 4%. In October 2025, the group strengthened its financial base through a capital increase by incorporating reserves and granting free shares, with one new free share allocated for every 48 shares held.