Marrakech – Crédit du Maroc reported strong 2025 financial results on Friday, posting a net profit of MAD 864 million ($86.4 million), an increase of 16.5% year on year.
The Moroccan lender’s performance in 2025 was underpinned by sustained commercial momentum, tighter risk discipline, and the accelerated rollout of its “Cap 2028” strategic transformation.
Credit portfolios expanded 11% to MAD 62.863 billion ($6.29 billion), driven primarily by corporate financing, which grew 12.2%, confirming the bank’s renewed traction in productive investment segments. This expansion was supported by disciplined balance-sheet management and a steady strengthening of funding sources.
“This performance confirms the bank’s change of scale and opens a new phase of controlled development,” said Ali Benkirane, Chairman of the Management Board, pointing to the “solid foundations” laid in recent years that are now enabling acceleration across all business lines.
Corporate lending was the standout performer. Equipment financing surged 16.6%, while real estate development loans recorded an identical growth rate. Retail activity also remained resilient, with consumer lending rising 11.2%, alongside a more measured 3.3% increase in mortgage lending.
On the funding side, deposits grew 7.4% to MAD 61.228 billion ($6.12 billion), anchored by a sharp 11.6% increase in demand deposits, which reached MAD 44.5 billion ($4.45 billion). This stable deposit base provided reliable support for the bank’s expanding credit activity.
Profitability indicators strengthened across the board. Net banking income climbed 8% to MAD 3.568 billion ($356.8 million), supported by a 10.4% expansion in net interest margins to MAD 2.681 billion ($268.1 million). Fee and commission income rose 7.3% to MAD 494 million ($49.4 million), reflecting solid contributions from subsidiaries and specialized services.
Operational efficiency also improved markedly. The cost-to-income ratio declined by 228 basis points to 46.3%, while gross operating income advanced 12.8% to MAD 1.916 billion ($191.6 million), despite MAD 248 million ($24.8 million) invested in technology and digital infrastructure.
Risk management remained firmly under control. The cost of risk fell 3.8% to MAD 383 million ($38.3 million), coverage of non-performing loans improved to 89.5%, and the NPL ratio declined by 38 basis points, indicating enhanced asset quality.
A major strategic milestone was the launch of CDM Pay, the bank’s electronic payments subsidiary, which rapidly captured over 7% market share, positioning it as a core growth engine in Crédit du Maroc’s digital ecosystem.
Capital strength remained robust, with Tier 1 capital at 12.16% and an overall solvency ratio of 14.8%, comfortably above regulatory thresholds. Consolidated equity increased 13.5% to MAD 8.39 billion ($839 million).
Reflecting the year’s performance, the board proposed a dividend of MAD 48 ($4.80) per share, up 15% year-on-year, representing a 65% payout ratio.
Looking ahead, Benkirane stressed execution and service quality as the next priorities. “We have installed the foundations and must now convert the progress achieved into sustainable performance,” he said.
With roughly two-thirds of its Cap 2028 objectives already achieved, Crédit du Maroc enters 2026 with renewed confidence and clear momentum for continued growth.
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