The Banque Centrale Populaire (BCP) group has reported a 10.4% increase in net profit for the first half of 2026, with a net profit of 3.2 billion dirhams. The group's core banking business grew by 6.6%, driven by a 5.9% increase in interest margins and a 9.1% increase in commission margins. This growth was supported by a 5.7% increase in gross customer loans and a 9% increase in customer deposits.
The BCP group's consolidated resources improved by 9% to 429.5 billion dirhams, with a collection of over 35 billion dirhams in one year. The group's gross customer loans increased by 5.7% to 337.5 billion dirhams. The product net banking decreased by 3.2%, impacted by the return to a normative level of market activity results after an exceptional 2025 year.
The group's general expenses increased by 6.2% to 6 billion dirhams, taking into account the integration of the AMIFA subsidiary into the consolidation scope. At constant scope, general expenses growth remained controlled at 3.6%. The operating coefficient stood at 44.7%, reflecting the group's operational efficiency.
The BCP group's net consolidated profit increased by 8.7% to 3.8 billion dirhams. The group's activity in Morocco showed performances aligned with those of the group, with a 6.5% increase in deposits over one year, reaching 336.2 billion dirhams. The structure of resources continued to improve, with a share of non-remunerated deposits rising to 79.6%.
The credit activity also showed a favorable evolution, with an outstanding amount exceeding 248 billion dirhams at the end of June 2026, representing a 7.9% increase over one year. This growth was mainly driven by financing granted to different segments of corporate clients. The Core Banking Business of the Bank in Morocco improved by 3%, benefiting from the growth of credit outstandings and the distribution of high-value-added products and services.
The BCP group continues to rely on the performance of its subsidiaries in Morocco and internationally, which remain major growth relays. The international subsidiaries contributed 21% to the consolidated net banking product, supported by an 8.1% increase in their aggregated PNB. The subsidiaries operating in Morocco represented 13% of the consolidated PNB, driven by the good performances recorded by Maroc Leasing, Bank Al Yousr, M2T, and BCP2S.
The first half of 2026 was marked by a significant improvement in the group's risk indicators. The cost of risk decreased by 60% to 1.1 billion dirhams, reflecting continuous progress in recovery and portfolio cleanup. The group maintains a robust prudential device through its risk management mechanisms, under the support fund dedicated to the cooperative model of the group, which shows an outstanding amount of 4.4 billion dirhams at the end of June 2026.
Key points
- BCP group's net profit increased by 10.4% to 3.2 billion dirhams in the first half of 2026.
- The group's core banking business grew by 6.6%, driven by a 5.9% increase in interest margins and a 9.1% increase in commission margins.
- The group's consolidated resources improved by 9% to 429.5 billion dirhams, with a collection of over 35 billion dirhams in one year.
