Moroccan bank Banque Centrale Populaire announces net profit’s rise to 3.5 pct in 2018

Banque Centrale Populaire (BCP), one of Morocco's biggest lenders, announced on March 19 that its first-half net profit attributable to shareholders rose 3.5 percent to 2.9 billion dirhams (USD 302 million). BCP has also claimed improvement of activities in Morocco and in African branches.

Net banking income grew 4 percent to 17 billion dirhams on the back of an improvement in the commercial segment while general risk provisions rose to 4.1 billion dirhams, BCP revealed in a statement, as reported by Reuters.

At BCP's African branches, net banking income increased 14 percent, with a 12 percent rise in loans and 9 percent increase in deposits. The bank proposed an annual dividend of 7.5 dirhams per share, up 15.4 percent BCP has 6 million clients in Morocco and branches in Europe and the Gulf collecting hard currency from the Moroccan diaspora.

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