Morocco’s BCP Bank posts 10.6% net banking income increase

Morocco’s second biggest lender, BCP, said its net banking income rose 10.6% to 22.8 billion dirhams in 2023.

This performance is attributed to the strengthening of the interest margin by 1.9%, an 8% growth in the commission margin, and an increase in the result from market activities by 65.8%, the bank said.

The bank’s net profit outperformed pre-covid levels at 4.1 billion dirhams, that is a 17.1% increase.

BCP is one of the Moroccan banks that rolled out investments in Africa. Together with Attijariwafa Bank and Bank of Africa, Moroccan banks have 21% market share in the ECOWAS grouping.