CFG Bank reports a net banking income of over 900 million MAD as of the end of September, up 34% over 9 months

As of September 30, 2025, CFG Bank's credit portfolio amounted to 17.4 billion MAD, reflecting a 20% growth over the past 12 months. This increase was driven primarily by the corporate segment, resulting in a net production of nearly 3 billion MAD in new loans. Customer deposits also saw a significant rise of 20% year-on-year, totaling 18.2 billion MAD by the end of September 2025. The net collection from deposits reached 3 billion MAD, with non-interest-bearing deposits growing by 36% and accounting for nearly 50% of total deposits, despite the strong growth in loans. The consolidated net banking income (PNB) stood at 909 million MAD as of September 30, 2025, compared to 678 million MAD during the same period in 2024, representing a 34% increase. The recurring PNB, which includes interest margin and commissions, reached 711 million MAD, up 27%. The interest margin was 376 million MAD, a 32% increase driven by the growth in the credit portfolio, while commissions totaled 335 million MAD, reflecting a 21% rise from banking and asset management services. The less predictable PNB, derived from stock market intermediation, bond trading, and corporate finance, reached 198 million MAD, a substantial increase of 71%, benefiting from favorable equity and bond markets in 2025. The consolidated gross operating profit (RBE) grew at a faster pace than the PNB, increasing by 71% due to effective cost management, which saw a 9% rise, while PNB grew by 34%. The strong performance in the third quarter of 2025 supports the annual guidance revised by management in September, projecting RBE growth of over 40%, operating income growth of over 45%, and net income growth of over 25%. It is noteworthy that in 2025, CFG Bank will fully utilize its carryforward losses and begin to incur corporate tax. Consequently, the growth of net income will be lower than that of operating income.