the buying market before the quarterly results

the buying market before the quarterly results
the buying market before the quarterly results

At the Casablanca Stock Exchange, the atmosphere is one of preparation. Investors are on alert, awaiting the quarterly publications which began at the beginning of May and which will intensify in the days to come. This is the time for certain growth stocks to stand out, supported by investors on the lookout for good news. This appears to be the case for CFG Bank, which saw its stock rise more than 7% this week, compared to an average of 2% for banking sector stocks. This is the stock’s best weekly performance since February.

CFG Bank: History of stock market performance

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Strong organic growth expected in 2024

The market expects the group to confirm its strong commercial momentum for the first quarter, in line with management forecasts. As a reminder, it anticipates growth in its net banking income between 20% and 24% for 2024, with profits increasing by 40% to 50%, benefiting from an increase in expenses less rapid than that of GNP. This would make it the fastest organic growth in the sector for this year.

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