At the end of the first half of this year, CDG Capital posted favorable financial and commercial results, supported by good commercial momentum and a favorable market context. Consolidated, net banking income posted growth of 58% to MAD 177 million, driven by the performance of market activities and the good performance of asset management fees.
General operating expenses, including depreciation, remained at 121.6 MDH (-0.5% compared to 1er half-year of 2023) and the cost of risk reached nearly 5 MDH against a deficit of 2 MDH, in the same period a year earlier, reflecting the upward variation in net provisions for expected credit losses, linked to new credit production.
Under these conditions, the Net Result Group Share stands at 33.6 MDH, while it was in deficit by 6 MDH last year, at the end of June. For their part, assets under management and assets under custody increased respectively by 12.2% to 216 billion DH and by 11.9% to 537 billion DH.
In social terms, the net banking product shows growth of 36.1% to 147.7 MDH, and a net result of 58.4 MDH against 14 MDH a year earlier.
For their part, CDG Capital’s prudential equity capital increased by 7% to 1.6 billion DH, following the capital increase of 100 MDH, carried out in June 2024. The solvency ratio and the Tier capital ratio reached, on a social basis, 17.5% and 11.6% respectively, significantly above the regulatory requirement set at 12% and 9% respectively. Finally, the short-term liquidity ratio (LCR) stands at a comfortable level of 134%.
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