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BMCI Reports 62.4% Surge in Net Profit for H1 2026 on Lower Risk Provisions
Moroccan bank BMCI delivered exceptional results for the first half of 2026, with consolidated net income jumping 62.4% to MAD 354 million. The impressive growth was primarily driven by a significant 62.3% reduction in risk costs, while net banking income showed modest growth of 0.9% to MAD 2.01 billion. The bank's improved operational efficiency and strong recoveries on provisions positioned it for robust profitability despite a challenging banking environment.
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Moroccan banking institution BMCI has posted stellar financial performance for the first half of 2026, demonstrating resilience and improved risk management in a competitive banking landscape. The bank's consolidated net income reached MAD 354 million, representing a remarkable 62.4% year-over-year increase from MAD 218 million in H1 2025. On a standalone basis, profits climbed 10% to MAD 322 million.
Revenue Growth Remains Steady
While profit margins expanded dramatically, top-line growth was more moderate. Consolidated net banking income increased 0.9% to MAD 2.01 billion, up from MAD 1.99 billion in the comparable period last year. The bank highlighted a 3.4% improvement in net interest margin, contributing an additional MAD 45.8 million, attributed primarily to optimized resource allocation and associated cost management.
However, commission margins declined 2.2%, and market activity results fell 1.9%, tempering overall revenue growth.
Operational Efficiency Improves
BMCI's cost-to-income ratio improved to 59.2% from 60% at the end of June 2025, reflecting an 80 basis point enhancement in operational efficiency. Consolidated gross operating income reached MAD 818 million compared to MAD 796 million a year earlier.
Risk Costs Plummet on Strong Recoveries
The standout driver of profit growth was the dramatic reduction in risk provisions. Consolidated risk costs dropped 62.3% to MAD 150 million from MAD 397 million in H1 2025. On a standalone basis, risk costs decreased 21.4% to MAD 189 million. BMCI attributes this evolution to strong recovery dynamics and successful collection efforts. The standalone coverage ratio strengthened to 82.8% from 80.6% year-over-year.
Commercial Activity Shows Modest Expansion
On the lending side, customer loans by cash position grew 0.9% to MAD 59.37 billion. The bank noted that disbursements of amortizable loans increased 14% year-over-year to reach MAD 5.35 billion, indicating healthy demand for structured financing products.
Customer deposits reached MAD 51.67 billion, up 2.2% compared to December 2025, representing additional inflows of MAD 1.12 billion. Non-remunerated resources accounted for 82% of deposits at the end of June. Meanwhile, signature commitments declined 7% to MAD 36.51 billion.
Strong Capital and Liquidity Positions
BMCI maintains robust prudential metrics with a consolidated solvency ratio of 13.4% and a liquidity ratio of 118%. In June, Fitch Ratings affirmed the bank's long-term rating at AA+(mar) with a negative outlook, alongside a short-term rating of F1+.