The RNPG stands at 554.7 million DH at the end of September 2023 compared to 549.2 million DH at the end of September 2022, an increase of 1%.
CIH Bank’s cost of risk increased by 168.2%, reaching around 747.4 million DH.
CIH Bank posted good commercial and operational performance for the third quarter of the year. Its net banking income showed double-digit growth in the third quarter of the year. In this sense, we note an increase of 32.6% compared to the same period of the previous year, representing a consolidated GNP of around 3.32 billion DH. “This development mainly results from the increase in the net interest margin of 10.6% and the performance of market activity at the end of September 2023 compared to the same period in 2022”, we note from the recent financial communication from CHI which, in social terms, notes an increase of 38.4% in its GNP (2.77 billion DH). Regarding the cost of risk, it stands at 747.4 million DH on a consolidated basis, an increase of 168.2% compared to September 2022.
Referring to CIH, the cost of risk rate at the end of September 2023 stands at 0.85% compared to 0.34% a year earlier. “This increase, while reflecting the change in the exposure mix with the development of company financing, remains within the sector average. In social terms, the cost of risk amounts to 589.3 million DH compared to 311.3 million DH corresponding respectively to a cost of risk rate of 0.76% in September 2023 compared to 0.46% in September 2022,” comments the bank. Furthermore, CIH’s consolidated net income increased by 2.3% to reach 596.7 million DH at the end of September 2023. The group’s net income stood at 554.7 million DH at the end of September. 2023 compared to 549.2 million DH at the end of September 2022, an increase of 1%. In social terms, the net result amounts to 510.1 million DH at the end of September 2023 compared to 363.2 million compared to the same period in 2022. At the same time, CIH achieved a net collection of 411.1 million at the end of September 2023. million DH. Customer deposits stood at 69.3 billion DH, up 0.6% compared to December 2022.
“On an individual basis, these deposits are essentially made up of those of CIH Bank for 61.5 billion DH and those of Umnia Bank for 4.4 billion DH,” comments the Banking Group on this subject. And to specify that “demand deposits constitute 83% of customer resources at the end of September 2023, i.e. the same level compared to the end of 2022”. As for customer loans, consolidated outstandings reached 88.1 billion DH, an improvement of 5.6%.
On an individual basis, CIH Bank’s credits stand at 67.8 billion DH, while Sofac and Umnia Bank contribute respectively 13.5 billion DH and 6.7 billion DH. The consolidated balance sheet total stands at 123.4 billion DH, an increase of 5.3% compared to December 2022. It should be noted that the bank closed the acquisition operation in the third quarter of the year. of BMCI Asset Management specializing in the management of UCITS whose name becomes “CIH Capital Management”. As a reminder, CIH Bank has undertaken for several years a strategy of diversifying its jobs towards business financing. This strategy allowed the bank to develop its revenues in a diversified manner while adopting a prudent provisioning policy.