This performance is attributed to cost control and marked growth in net banking productwho has reached 177 MDHeither an increase of 58%This increase is mainly supported by the dynamics of market activities and the solidity of commissions linked to asset management.
General operating expensesincluding depreciation provisions, remain at 121.6 MDH, recording a slight decrease of 0.5% compared to the first half of 2023. Furthermore, the cost of risk stands at 4.9 MDH, up from a negative cost of 2 MDH the previous year, due to an increase in provisions for expected credit losses, linked to new credit production.
In terms of assets, those under management and in conservation also experienced an increase, reaching respectively 216 billion dirhams (MMDH) (+12.2%) and 537 MMDH (+11.9%) at the end of June 2024.
On the social level, net banking income increased by 36.1% to reach 147.7 MDH, while net income reached 58.4 MDH, up from 14 MDH the previous year.
Financial fundamentals strengthened in the first half of the year
Prudential capital of CDG Capital strengthened by 7%, reaching 1.6 billion dirhams, following a capital increase of 100 million dirhams carried out in June 2024. The solvency ratio stands at 17.5% and the Tier 1 capital ratio at 11.6%, well above the regulatory requirements set at 12% and 9%, respectively. In addition, the short-term liquidity ratio (LCR) remained at a comfortable level of 134% at the end of June 2024.
Related News :