The profits of eight main Moroccan banks reached 10.5 billion dirhams ($1.1 billion) at the end of September, representing an increase of 0.96 percent compared to the same period last year, while the total net banking income (total interest, commission, and market incomes) increased by 6.6 percent or an amount of 53.43 billion dirhams ($5.62 billion), according to financial data released by Moroccan banks for the third quarter of this year.
The performance of the eight banks in terms of profit growth has been diverse, while the net profits of the Moroccan Bank for Foreign Trade decreased by 16.7%, and the net profits of the real estate and tourism loan decreased by 28.6%. On the other hand, the net profits of the rest of the banks reached varying heights ranging between 2.17 percent for the Moroccan Bank for Trade and Industry and 29.41 percent for the Moroccan Agricultural Loan Bank.
The net profit of the two largest Moroccan banks, Attijariwafa Bank and the Banque Populaire du Maroc, rose by an equal amount of 4.76% for both banks. On the other hand, the profits of the "Societe Generale" branch were known to rise by 6.27%.
Source (Al-Sharq Al-Awsat newspaper, Edited)
