Morocco: BMCI’s consolidated management expenses grew to $166.8 mln in 2018
Thursday, 28 March 2019 12:52
In 2018, the consolidated Management Expenses of Moroccan banking group BMCI and its various subsidiaries slightly rose by 1.7% to reach MAD1.61 billion ($166.8 million). In 2017, it was MAD1.58 billion.
The group, 66.74% owned by French BNP Paribas, explains that this was due to a MAD136 million investment in the IT system (52%) and in its real estate (48% of the investments) as well as 250 recruitments during the period under review.
These investments were realized while the group’s consolidated net banking product slightly rose by 0.4% to MAD3.03 billion. This performance was mainly due to a 39.1% rise in its markets operations. In addition, the consolidated net profit grew by 2.9% to MAD562 million.
Chamberline Moko
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