BCP Group unveils 2023 RNPG up 26.4%, exceeding pre-Covid levels


Gross receivables from customers increased by 3.8% to 319.4 billion Dirhams, driven by commercial dynamics both in Morocco and internationally. For their part, customer deposits increased slightly by 1% to 371.6 billion Dirhams, marked by the inflationary situation.

In this context, the consolidated GNP increased by 10.6% to 22.8 billion Dirhams, driven by all of its components. In detail, the interest margin strengthened by 1.9%, the margin on commissions strengthened by 8%, while the result of market activities increased by 65.8%, benefiting in particular from a context monetary more stable than the previous year. By contributor, the structure of the consolidated GNP stabilizes in 2023 with a participation of the Bank in Morocco at 51%, followed by the Banque de l'International and the subsidiaries in Morocco which maintain respective shares of 27% and 22 %.

For their part, general operating expenses showed a controlled increase of 4.5% to 11.2 billion dirhams, including the Group's contribution to the special fund for managing the effects of the Al Haouz earthquake.

Furthermore and as part of its prudent and anticipatory provisioning policy, the BCP Group's cost of risk increased by 24.8% to 5.4 billion Dirhams, attributable in particular to the coverage of the sovereign risk of certain countries at the level of the Bank internationally, following the deterioration of their political and economic environment. Despite this increase, the consolidated Net Profit of the BCP Group increased by 17.7% to 4.1 billion Dirhams, thus exceeding the levels recorded prior to the pandemic crisis. Likewise, the Group's Net Profit Share increased by 26.4% to 3.5 billion Dirhams.

The group did not comment on the 2023 dividend in its post-Council press release.