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Crédit du Maroc Delivers Robust 2025 Results and Accelerates Toward 2028 Ambitions
At its annual general meeting, Crédit du Maroc announced a strong 2025 performance across all key metrics – credit volumes, deposits, revenues and profitability – confirming two‑thirds of its 2028 strategic targets. The bank, now under the Holmarcom umbrella, highlighted the balanced growth of corporate, SME and retail lending, a rise in net banking profit, tighter risk metrics and a proposed 15 % dividend increase, setting the stage for a new acceleration phase focused on execution excellence and customer experience. The results show an 11 % rise in total loans to DH 62.86 bn, a 12.2 % jump in corporate financing, and a 4.8 % increase in household credit. Net banking profit grew 8 % to DH 3.56 bn, while the cost‑to‑risk fell 3.8 % and the non‑performing loan coverage improved to 89.5 %. With a Tier‑1 ratio of 12.16 % and a payout of DH 48 per share, the bank is positioning itself for sustained growth while maintaining prudential discipline.
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Key Highlights from Crédit du Maroc’s 2025 Annual Report
During its annual shareholders’ meeting on 13 February 2026, Crédit du Maroc disclosed a 2025 performance that outpaced expectations across credit growth, deposits, revenue, and profitability. Management framed the year as a validation of the strategic roadmap set after Holmarcom became the reference shareholder.
Strategic Progress: The bank has achieved roughly two‑thirds of its Cap 2028 objectives, confirming both the relevance of its plan and the robustness of its business model.
Credit Portfolio Expansion
- Total loan book rose 11 % to DH 62.86 bn.
- Corporate financing hit DH 37.38 bn, up 12.2 %, driven by equipment loans and developer financing (+16.6 % each).
- Household credit grew 4.8 % to DH 22.28 bn, supported by consumption loans (+11.2 %) and mortgage lending (+3.3 %).
Retail Banking Performance
Moncef Alaoui, director of Commercial Banking, highlighted a 10 % rise in client credit from 2023‑24 and an 11 % increase from 2024‑25, attributing the growth to consistent sales efforts and an expanding customer base.
- Mortgage balances grew from DH 16.6 bn to DH 17.2 bn (3.3 % YoY).
- Consumption‑credit balances continued their upward trend over the past two years.
- Current‑account balances rose from DH 39 bn (2024) to DH 44.5 bn (2025) – a 11.6 % jump.
- Mutual‑fund (OPCVM) assets reached DH 11.7 bn.
Revenue and Profitability
- Consolidated net banking income climbed 8 % to DH 3.56 bn.
- Net interest margin rose 10.4 % to DH 2.68 bn, supported by commercial activity, cost‑resource optimisation and contributions from the Leasing & Factoring arms.
- Fee income reached DH 494 m (+7.3 %), helped by the growth of subsidiaries such as Crédit du Maroc Patrimoine and CDM Capital Bourse.
- Market‑operations result stood at DH 499 m, benefitting from foreign‑exchange activity.
- Subsidiary contribution to PNB grew 28.2 % to DH 259 m.
The increase in PNB and disciplined cost management delivered a gross operating profit of DH 1.91 bn (+12.8 %). The cost‑to‑income ratio improved by 228 basis points to 46.3 %.
Investment and Capital Expenditure
The bank invested DH 248 m in 2025, primarily for technology transformation and operational capacity building.
Risk Management
- Cost of risk fell 3.8 % to DH 383 m.
- Non‑performing loan coverage improved to 89.5 % (up 206 basis points YoY).
- Outstanding NPLs stood at DH 4.43 bn, with doubtful‑and‑litigious loans decreasing by 38 basis points.
President Ali Benkirane stressed that growth and risk control move hand‑in‑hand, embedded in the bank’s DNA.
Capital Adequacy and Dividend Proposal
Chief Financial Officer Hanane Laala reported capital ratios well above regulatory minima: Tier‑1 at 12.16 % and total solvency at 14.85 %. Consolidated equity rose 13.5 % to DH 8.39 bn.
The Board will propose a gross dividend of DH 48 per share – a 15 % increase over 2024 – representing a 65 % payout ratio.
Future Outlook
Ali Benkirane outlined the next priority: accelerating execution and service quality. With governance, HR, operational model and technology foundations in place, the focus will shift to transforming these advantages into durable performance, simplifying processes and further enhancing client experience.