Bank of Africa (BOA), part of the BMCE Group, reported a 10% annual increase in its net profit share for the first half of 2026. The result net part du groupe (RNPG) reached 2.5 billion dirhams (MMDH). This growth is significant for the bank, reflecting its strong performance during this period. The RNPG growth indicates a positive trend in the bank's operations.
The bank's net profit also saw a 4% increase, reaching 1.9 MMDH. This growth is a result of various factors, including the bank's core business. In a statement, the bank highlighted that its consolidated net banking income (PNB) rose by 1% to 10.5 MMDH. This increase was driven by growth in its core business, with a 7% rise in interest margins and a 10% increase in commission margins.
The bank's general operating expenses consolidated increased by 8%, resulting in an operating coefficient of 44.2% as of June 2026. This is compared to 41.5% in the same period last year. Despite this increase, the bank's operating profit decreased by 3% to 5.9 MMDH. The bank's cost of risk consolidated decreased by 16% to 1.4 MMDH, with a cost of risk ratio of 1% as of June 2026.
The bank's credit to customers consolidated, excluding resales, increased by 4% from December 2025 to June 2026, reaching 243 MMDH. Deposits, excluding repos, also rose by 4% to 286 MMDH. These increases indicate a growth in the bank's lending and deposit-taking activities. The bank's asset base expanded during this period.
Bank of Africa's results for the first half of 2026 reflect a mixed performance. While the bank's net profit and RNPG increased, its operating profit decreased. The bank's ability to manage its cost of risk and grow its lending and deposit-taking activities is notable. The bank's performance is significant in the context of the Moroccan banking sector.
The Moroccan banking sector has been experiencing a period of growth, driven by various factors, including economic expansion and regulatory changes. Bank of Africa's performance is in line with this trend. The bank's growth in net profit and RNPG reflects its strong position in the market. The bank's ability to adapt to changing market conditions is crucial for its future performance.
Bank of Africa's results for the first half of 2026 demonstrate its resilience and ability to grow in a challenging environment. The bank's performance is a positive indicator for the Moroccan economy. The bank's growth in net profit and RNPG is significant, and its ability to manage its cost of risk and grow its lending and deposit-taking activities is notable.
Key points
- Bank of Africa's net profit rises 10% to $2.5 billion in first half of 2026.
