BOA: Half-Year Results Up 16%, Driven by Core Business and Market Activities

The consolidated net banking product increased by 8%, reaching 10.3 billion dirhams. This performance is driven by the core business, with an 8% rise in interest margin and a 2.3% increase in commission margin, alongside a significant contribution from market activities, which surged by 54.2%. The gross operating profit rose by 12% to 6.1 billion dirhams by the end of June 2025. Meanwhile, the group's net profit recorded a year-on-year growth of 16%, amounting to 2.3 billion dirhams, reflecting improved performance across all components. The consolidated cost-to-income ratio improved, decreasing from 43.6% at the end of June 2024 to 41.5% in June 2025, continuing a marked downward trend over the past six years. The consolidated balance sheet total remained stable at 423 billion dirhams. Consolidated loans (excluding resales) grew by 2% to 227 billion dirhams, while customer deposits (excluding repos) also increased by 2%, reaching 261 billion dirhams. The group's equity rose by 4% to 30.2 billion dirhams. Additionally, the group issued a perpetual subordinated bond with a loss absorption mechanism and the option to cancel coupon payments, totaling one billion dirhams. The consolidated cost of risk decreased by 8% to 1.6 billion dirhams by the end of June 2025, and the coverage ratio improved to 69.7%, up from 68.5% in December 2024.