• Bank of Africa net income rose 12% to 3B dirhams by Sept. 2025
• Growth driven by 17% rise in interest income, strong loan performance
• Credit cleanup, digital expansion, and inclusion key to ongoing strategy

Bank of Africa (BOA) reported a 12% rise in group net income to 3 billion dirhams ($323 million) for the period ending Sept. 30, 2025.

The performance was supported by a 9% increase in consolidated net banking income to 15.3 billion dirhams, driven by net interest income, which rose 17%, and net commission income, which grew 15%.

The group's gross operating income increased by 13%, reflecting improved operational efficiency as shown by a decrease in the consolidated cost-to-income ratio to 43.4%.

Bank of Africa showed dynamic commercial activity with loans, excluding refinancing, at 146 billion dirhams, up 3% for the quarter and 6% year-on-year. This growth was supported particularly by corporate and equipment loans, allowing the bank to gain market share.

Customer deposits also grew, reaching 262 billion dirhams on a consolidated basis, with a particular contribution from non-remunerated deposits in Morocco.

In October 2025, the group strengthened its financial base through a capital increase by incorporating reserves and issuing bonus shares, at a ratio of one new bonus share for every 48 shares held.

Despite the profit growth, the group continued a prudent risk management policy. The consolidated cost of risk stood at 2.668 billion dirhams, a level that remains high and weighs on results.

This level of provisions reflects the group's ongoing efforts to clean up its credit portfolio. The objective of this policy is to strengthen the bank's resilience against non-performing loans. These efforts resulted in an improvement of the consolidated coverage ratio, which reached 69.7% at the end of September 2025, compared to 68.5% at the end of December 2024.

To maintain its growth momentum, the group intends to continue cleaning up its credit portfolio, accelerate its digital transformation by developing omnichannel services to improve customer experience, and strengthen financial inclusion through innovative regional partnerships.

Sandrine Gaingne