Credit Portfolio Growth
As of December 31, 2025, CFG Bank's credit portfolio reached 19.0 billion dirhams, reflecting a substantial 21% increase. This growth translates to a net production of nearly 3.3 billion dirhams, primarily driven by the corporate segment.
Deposit Increases
Customer deposits grew by 11% over the past year, amounting to 20.3 billion dirhams by the end of December 2025. This increase represents a net collection of 2 billion dirhams, with non-interest-bearing deposits maintaining a steady share of nearly 50% of total deposits, despite rapid credit growth.
Subordinated Debt Issuance
In 2025, CFG Bank successfully executed two subordinated debt issuances totaling 1 billion dirhams, raising the total subordinated debt to 1.4 billion dirhams.
Consolidated Net Banking Income
The consolidated net banking income (NBI) stood at 1.247 billion dirhams as of December 31, 2025, marking a 32% increase from 941 million dirhams in the same period of 2024. The recurring NBI, which includes interest margin and commissions, reached 990 million dirhams, up 27%.
The interest margin amounted to 512 million dirhams, reflecting a 32% rise, primarily due to increased credit volumes. Commissions also saw a boost, totaling 478 million dirhams, a 21% increase, encompassing both banking and asset management fees.
Less predictable NBI components, including brokerage, bond trading, and corporate finance, reached 258 million dirhams, a remarkable 60% increase, benefitting from favorable equity and bond market conditions in 2025.
Operating Results
The gross operating result (RBE) surged by 63%, outpacing NBI growth, thanks to effective cost management, which saw expenses rise by only 11%. Notably, operating expenses included an exceptional provision for asset depreciation of 30 million dirhams related to an upcoming relocation planned within the next 12 months. Adjusted for this depreciation, the RBE would reflect a 70% growth.
Pre-Tax Profit and Net Income
The pre-tax profit reached 561 million dirhams at the end of December 2025, a 65% increase from 341 million dirhams in 2024. This figure accounts for a risk cost of 46 million dirhams, representing 0.26% of the total credit portfolio.
The net income attributable to the group (RNPG) amounted to 370 million dirhams, reflecting a 41% increase compared to 2024. The growth rate of RNPG was lower than that of pre-tax profit due to an increase in corporate tax following the expiration of carryforward losses. The effective corporate tax rate rose to 33% in 2025, up from 19% in 2024.
Return on Equity
Consolidated equity reached 2.087 billion dirhams by the end of 2025, compared to 1.840 billion dirhams in 2024. With a total consolidated net income of 381 million dirhams, the return on equity (ROE) stands at 21%.
Dividend Policy
Subject to regulatory approval, the Board has proposed a dividend of 4 dirhams per share, representing a 21% increase from the previous year, with payment scheduled for June 2026.
Key Highlights
The year 2025 witnessed stronger-than-expected growth, effectively doubling the bank's size over two years. Financial indicators showcased exceptional performance, particularly in credit production and deposit collection. The investment banking sector also experienced significant growth, bolstered by robust capital market performance in equities and bonds.
In May 2025, CFG Bank hosted its inaugural 'Capital Markets Day,' where management presented the bank's business model and medium-term growth prospects to various analysts. CFG Bank announced an ambitious goal of doubling its size by 2028/2029 without raising capital, targeting an NBI of approximately 2 billion dirhams, an RNPG of around 500 million dirhams, and an ROE exceeding 16%.
In June and December 2025, CFG Bank successfully completed two subordinated debt issuances totaling 1 billion dirhams to support the rapid growth of its credit and deposit portfolios.
2026 Guidance
The performance achieved in 2025 exceeded expectations, reinforcing confidence in the medium-term outlook presented during the Capital Markets Day in May 2025. The year 2026 is anticipated to be another year of rapid growth for CFG Bank, with upward revisions to the financial guidance for 2026 to be published alongside the first-quarter indicators of 2026.
