Morocco’s BCP announces 3.2 billion net profit in 2013

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The Banque Centrale Populaire (BCP) announced this week in Casablanca its financial resultsBCP for 2013 amounting to 3.2 billion dirhams. One of the experts says that the record is a good financial performance in an unfavorable context.

On a press conference, BCP posted the report at the end of fiscal 2013 saying that the positive results addressed to “the effectiveness of its business model and the scope of its international development”.

Thus, the consolidated net profit stood at 3.2 billion dirhams, while the net income BCP group recorded an increase of 4% to nearly 2 billion dirhams. At the same time, with a satisfactory performance of all of its components, its net banking income rose by 14.6% to 13.2 billion dirhams.

In the domestic market, BCP confirms its effectiveness in terms of commercial mobilization of savings through a wide network of local “vector’s constant involvement in banking services for households,” the group announced.

The customer deposits are located in Morocco 194.4 billion dirhams, up 4.9%. Growth that exceeds that of the banking sector, which has improved positioning PCO group of 33 basis points to 28.2%, “further consolidating its position as the leading collector of deposits.”

With 422,000 new relationships, the portfolio of BCP group reached 4.5 million customers. The bank continues to expand its distribution network with the opening of 105 branches in Morocco, bringing the total to 1,250. Given this figure, the PCO group boasts of being the first network of the national banking sector, with a market share of 21.4%, an improvement of 72 basis points.

Mohamed Dekkak