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CFG Bank H1 2026: Net Banking Income Climbs 6% to MAD 634M Despite Weaker Trading Revenue
CFG Bank reported a 6% increase in consolidated net banking income (NBI) to MAD 634 million for the first half of 2026, driven by strong loan book expansion (+20%) and deposit growth (+17%). Recurring NBI surged 18% to MAD 549 million, offsetting a 36% decline in market-related revenue amid geopolitical turbulence in the Middle East. The bank opened its 19th branch in Casablanca and announced plans for six additional openings through 2028.
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Key Highlights for the Second Quarter of 2026
CFG Bank has released its financial indicators for the second quarter of 2026, showcasing a resilient performance driven by a robust expansion in commercial banking and asset-management activities, even as geopolitical headwinds dampened market-linked revenue streams.
Business Highlights
- New branch network expansion: In April 2026, CFG Bank inaugurated a new branch on Boulevard Zerktouni in Casablanca, bringing the total number of branches to 19. In line with its strategic roadmap, six additional branches are under construction, with openings scheduled between late 2026 and 2028. This expansion supports the bank's accelerated growth strategy across priority client segments.
- Mixed operating environment: The first half of 2026 was defined by two contrasting dynamics: strong growth in the Moroccan economy on one hand, and escalating geopolitical tensions in the Middle East on the other, which had a negative impact on both Moroccan equity and bond markets.
Loans and Deposits: Sustained Momentum
- Outstanding loans: +20%
Total loan book reached MAD 20.6 billion at 30 June 2026, representing a 20% increase over 12 months, equivalent to a net production of MAD 3.4 billion. Growth was driven primarily by the corporate segment. - Outstanding deposits: +17%
Customer deposits grew 17% year-over-year, with net inflows of MAD 3.2 billion, pushing the total to MAD 22.1 billion at the end of June 2026. Non-interest-bearing deposits surged 26% and now account for more than 50% of total deposits.
Recurring NBI: MAD 549M (+18%)
CFG Bank continued its rapid expansion in commercial and savings-management activities, with recurring NBI climbing 18% year-over-year in H1 2026. The breakdown is as follows:
- Net interest income: MAD 316 million (+29%), propelled by higher loan volumes and an improved net interest margin.
- Commissions: MAD 233 million (+5%), encompassing both banking fees and asset-management commissions.
Market NBI: MAD 85M (-36%)
The more volatile P&L component—including brokerage, bond and equity trading, and corporate finance—came in at MAD 85 million, down 36% year-over-year. This decline reflects a less favourable climate in both Moroccan equity and fixed-income markets relative to the exceptional performance recorded in H1 2025.
Consolidated NBI and Operating Efficiency
- Consolidated NBI: MAD 634 million (+6%) for H1 2026. Q2 2026 NBI alone reached MAD 324 million, up 9% compared to Q2 2025.
- Gross operating income (GOI): MAD 354 million (+18%), outpacing NBI growth thanks to disciplined cost control during the first half of 2026.
CFG Bank's performance underscores its successful pivot toward recurring revenue streams, positioning the institution to weather market volatility while continuing its strategic expansion.