BMCI: Consolidated Net Income Up 2.5% in the First Half of 2025

The Moroccan Bank for Commerce and Industry (BMCI), a subsidiary of BNP Paribas, has released its financial indicators as of June 30, 2025. The results show a moderate progression in a context characterized by tightened credit conditions and an increase in customer deposits. At the end of the first half, the consolidated Net Banking Income (NBI) reached 1.99 billion dirhams, marking a 5.4% increase compared to the same period in 2024. This growth is supported by a strong performance in interest margin (+5.2%) and commission margin (+6.8%). On a standalone basis, the NBI stands at 1.89 billion dirhams, up 4.3%. Thanks to effective cost management, consolidated operating expenses amounted to 1.19 billion dirhams, reflecting a 4% increase. Consequently, the cost-to-income ratio improved to 60%, compared to 61% a year earlier. The Gross Operating Income (GOI) reached 796 million dirhams by the end of June 2025, representing a 7.5% increase from the same period in 2024. The consolidated Net Income rose to 218 million dirhams at the end of June 2025, up 2.5% from June 2024. On a standalone basis, it increased more significantly by 11.7% to 292 million dirhams. The consolidated Income Before Tax reached 385 million dirhams, a rise of 6.8%, while on a standalone basis, it grew by 15.7% to 437 million dirhams. Consolidated customer loans decreased by 3.9% to 56.86 billion dirhams at the end of June 2025, down from 59.19 billion dirhams on December 31, 2024. In contrast, customer deposits increased by 3% to 49.83 billion dirhams, with a high proportion of non-interest-bearing resources (75.8%). Signature commitments rose by 3.3% to 19.9 billion dirhams. The consolidated risk cost amounted to 397 million dirhams, up 10.1%, reflecting an increase in provisions for the credit portfolio (stage 1 and 2). On a standalone basis, it decreased to 240 million dirhams, down 17.3%, due to an improvement in the financial situation of households, particularly in consumer credit activities, and a more favorable macroeconomic environment.