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CDG Capital Posts MAD 74.4M Net Profit in H1 2026 Amid Market Normalization
CDG Capital delivered solid financial results for the first half of 2026, reporting a consolidated net profit of MAD 74.4 million. While consolidated net banking income declined 11% year-over-year to MAD 442.4 million due to an exceptionally strong comparison base in H1 2025, standalone performance surged—social net banking income jumped 56% to MAD 442 million and net income soared 66% to MAD 208 million, driven by subsidiary dividends following a group perimeter expansion.
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Casablanca, October 1, 2026 — CDG Capital closed the first half of 2026 with resilient earnings, posting a consolidated net profit (RNPG) of MAD 74.4 million despite a backdrop of market normalization.
Consolidated Figures Reflect High Comparison Base
Consolidated net banking income (PNB) came in at MAD 442.4 million, an 11% decline versus the same period in 2025. The drop is largely attributable to an elevated comparison base: H1 2025 benefited from exceptionally favorable market conditions that had significantly boosted market-activity revenues, particularly through portfolio valuation gains.
Standalone Performance Shows Strong Momentum
On a standalone (social) basis, the story is markedly different. Social net banking income surged 56% to MAD 442 million, fueled by dividend contributions from subsidiaries following the group's perimeter evolution. In the same vein, standalone net income climbed 66% to MAD 208 million.
The divergence between consolidated and social accounts highlights the impact of the group's structural reorganization, with subsidiary dividends now flowing directly to the parent company level.
Recent Recognition and Strategic Developments
- July 2026: CDG Capital named "Africa's Best Investment Bank for Project & Infrastructure Financing" by Euromoney
- March 2026: Full-year 2025 PNB exceeded MAD 1 billion, up 75%
- Early 2026: CIH Bank studying potential acquisition of CDG Capital Gestion and CDG Capital Bourse
These results underscore CDG Capital's ability to navigate shifting market cycles while leveraging its expanded group structure to drive shareholder-level profitability.