BANQUE MAROCAINE POUR LE COMMERCE ET L'INDUSTRIE

Income Statement Banque Marocaine pour le Commerce et l'Industrie

Equities

BCI

MA0000010811

Banks

End-of-day quote Casablanca S.E. Other stock markets 2025-07-11			5-day change	1st Jan Change
570.00 ^MAD	-0.87%		-5.63%	-1.72%

May. 27	Banque Marocaine pour le Commerce et l'Industrie Reports Earnings Results for the First Quarter Ended March 31, 2025	CI
Mar. 28	Banque Marocaine pour le Commerce et l'Industrie Reports Earnings Results for the Full Year Ended December 31, 2024	CI

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Published financial data: BANQUE MAROCAINE POUR LE COMMERCE ET L'INDUSTRIE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	3.15B	3.07B	3B	3.07B	3.54B
Interest Income, Total	3.15B	3.07B	3B	3.07B	3.54B
Interest On Deposits	842M	730M	659M	780M	1.11B
Interest Expense, Total	842M	730M	659M	780M	1.11B
Net Interest Income	2.31B	2.34B	2.34B	2.29B	2.43B
Income From Trading Activities	-	-	353M	394M	506M
Gain (Loss) on Sale of Assets	-	-	-	-9.54M	-
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-	-	-	-	-
Total Other Non Interest Income	753M	714M	353M	368M	503M
Non Interest Income, Total	753M	714M	706M	752M	1.01B
Revenues Before Provison For Loan Losses	3.06B	3.05B	3.04B	3.04B	3.44B
Provision For Loan Losses	440M	901M	575M	562M	633M
Total Revenues	2.62B	2.15B	2.47B	2.48B	2.8B
Occupancy Expense	215M	211M	245M	235M	252M
(Income) Loss on Equity Invest.	-3.08M	-2.69M	-240K	-6.53M	-4.05M
Total Other Non Interest Expense	1.42B	1.58B	1.87B	1.84B	1.94B
Non Interest Expense, Total	1.63B	1.79B	2.12B	2.07B	2.19B
EBT, Excl. Unusual Items	991M	360M	351M	417M	613M
EBT, Incl. Unusual Items	991M	360M	351M	417M	613M
Income Tax Expense	391M	216M	184M	232M	442M
Earnings From Continuing Operations	600M	145M	167M	185M	171M
Net Income to Company	600M	145M	167M	185M	171M
Minority Interest	5.03M	10.72M	27.31M	43.73M	199K
Net Income - (IS)	605M	156M	194M	229M	171M
Net Income to Common Incl Extra Items	605M	156M	194M	229M	171M
Net Income to Common Excl. Extra Items	605M	156M	194M	229M	171M
Per Share Items
Net EPS - Basic	45.56	11.71	14.62	17.22	12.89
Basic EPS - Continuing Operations	45.56	11.71	14.62	17.22	12.89
Basic Weighted Average Shares Outstanding	13.28M	13.28M	13.28M	13.28M	13.28M
Net EPS - Diluted	45.56	11.71	14.62	17.22	12.89
Diluted EPS - Continuing Operations	45.56	11.71	14.62	17.22	12.89
Diluted Weighted Average Shares Outstanding	13.28M	13.28M	13.28M	13.28M	13.28M
Normalized Basic EPS	47.04	17.77	18.58	22.93	28.86
Normalized Diluted EPS	47.04	17.77	18.58	22.93	28.86
Dividend Per Share	-	43	-	18	18
Payout Ratio	65.85	-	294.17	58.09	139.6
Supplemental Items
Effective Tax Rate - (Ratio)	39.49	59.82	52.48	55.69	72.09
Total Current Taxes	352M	365M	192M	132M	479M
Total Deferred Taxes	39.26M	-149M	-7.48M	101M	-37.16M
Normalized Net Income	625M	236M	247M	305M	383M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.24B	1.17B	1.58B	777M	1.36B
Investment Securities, Total	9.68B	8.6B	10.38B	10.19B	10.37B
Trading Asset Securities, Total	850M	1.24B	1.09B	1.52B	1.46B
Total investments	10.53B	9.85B	11.48B	11.72B	11.83B
Gross Loans	60.31B	58.12B	57.34B	60.51B	64.58B
Allowance For Loan Losses	-6.71B	-7.31B	-7.44B	-7.65B	-7.4B
Net Loans	53.6B	50.81B	49.91B	52.86B	57.19B
Gross Property Plant And Equipment	3.17B	3.21B	2.57B	2.57B	2.68B
Accumulated Depreciation	-1.53B	-1.68B	-1.3B	-1.4B	-1.54B
Net Property Plant And Equipment	1.64B	1.53B	1.27B	1.18B	1.14B
Goodwill	87.72M	87.72M	87.72M	87.72M	87.72M
Other Intangibles, Total	411M	440M	532M	540M	561M
Investment in Real Estate	30.44M	28.9M	27.57M	25.82M	24.07M
Accrued Interest Receivable	2.03B	1.95B	2.03B	2.04B	2.26B
Other Receivables	1.52B	610M	340M	1.22B	443M
Deferred Tax Assets Long-Term (Collected)	113M	137M	357M	318M	301M
Other Long-Term Assets, Total	1K	-	-	-	-
Total Assets	71.2B	66.61B	67.61B	70.75B	75.2B
Liabilities
Accrued Expenses, Total	3.11B	2.98B	3.22B	2B	3.86B
Interest Bearing Deposits	19.73B	15.89B	15.76B	18.58B	18.74B
Non-Interest Bearing Deposits	30.89B	32.14B	31.58B	31.58B	34.01B
Total Deposits	50.62B	48.03B	47.34B	50.16B	52.75B
Short-Term Borrowings	225M	598M	205M	1.08B	953M
Long-Term Debt	8.93B	6.61B	8.23B	7.47B	9.18B
Long-Term Leases	108M	78.56M	440M	397M	345M
Current Income Taxes Payable	58.71M	35.81M	31.08M	31.15M	9.8M
Accrued Interest Payable	117M	64.46M	43.38M	30.13M	65.34M
Unearned Revenue Non Current	-	-	-	277M	-
Deferred Tax Liability Non-Current	214M	98.19M	218M	244M	187M
Other Non Current Liabilities	314M	460M	628M	1.79B	630M
Total Liabilities	63.71B	58.96B	60.36B	63.48B	67.98B
Common Stock, Total	1.33B	1.33B	1.33B	1.33B	1.33B
Retained Earnings	605M	156M	194M	229M	171M
Comprehensive Income and Other	5.52B	6.14B	5.72B	5.7B	5.69B
Total Common Equity	7.46B	7.62B	7.24B	7.25B	7.19B
Minority Interest	41.02M	30.02M	15.23M	23.57M	26.36M
Total Equity	7.5B	7.65B	7.25B	7.28B	7.22B
Total Liabilities And Equity	71.2B	66.61B	67.61B	70.75B	75.2B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	13.28M	13.28M	13.28M	13.28M	13.28M
ECS Total Common Shares Outstanding	13.28M	13.28M	13.28M	13.28M	13.28M
Book Value / Share	561.53	573.95	545.16	546.32	541.55
Tangible Book Value	6.96B	7.09B	6.62B	6.63B	6.54B
Tangible Book Value Per Share	523.96	534.22	498.48	499.03	492.68
Total Debt	9.26B	7.29B	8.88B	8.95B	10.48B
Deposits at Interest - Cash	-	-	-	-	-
Net Debt	5.79B	4.87B	4.04B	5.16B	6.11B
Equity Method Investments, Total	13.23M	13.7M	12.13M	16.74M	14.99M
Full Time Employees	3K	-	-	2.62K	-
Number Of Offices	-	-	-	288	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	605M	156M	194M	229M	171M
Depreciation, Depletion & Amortization	215M	211M	245M	241M	252M
Total Depreciation, Depletion & Amortization	215M	211M	245M	241M	252M
(Gain) Loss on Sale of Investments - (CF)	344M	594M	325M	246M	-252M
Provision for Credit Losses	75.75M	177M	133M	140M	815M
(Income) Loss On Equity Investments - (CF)	3.08M	2.69M	240K	6.53M	4.05M
Change In Income Taxes	-340M	-387M	-484M	13.63M	-615M
Change in Other Net Operating Assets (Collected)	-2.57B	-2.11B	-1.31B	2.6B	-1.97B
Other Operating Activities	442M	451M	422M	477M	513M
Cash from Operations	-1.23B	-905M	-479M	3.95B	-1.08B
Capital Expenditure	-378M	-132M	-72.29M	-153M	-239M
Sale (Purchase) of Real Estate Properties (Collected)	1.94M	1.55M	1.33M	1.75M	1.75M
Investment in Marketable and Equity Securities, Total	8.24M	-3.16M	1.32M	-11.14M	-2.29M
Cash from Investing	-367M	-134M	-69.64M	-162M	-239M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-398M	-	-571M	-133M	-239M
Common & Preferred Stock Dividends Paid	-398M	-	-571M	-133M	-239M
Other Financing Activities, Total	502M	-2.37M	-315K	-752M	792M
Cash from Financing	103M	-2.37M	-571M	-885M	553M
Net Change in Cash	-1.5B	-1.04B	-1.12B	2.91B	-767M
Supplemental Items
Cash Income Tax Paid (Refund)	340M	387M	484M	-13.63M	615M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.85	0.21	0.25	0.27	0.23
Return On Equity %	8.13	1.91	2.24	2.54	2.36
Return on Common Equity	8.24	2.06	2.61	3.15	2.37
Shareholders Value Added	-277M	-749M	-698M	-641M	-696M
Margin Analysis
SG&A Margin	8.2	9.8	9.93	9.46	8.98
Net Interest Income / Total Revenues %	88.04	108.72	94.72	92.32	86.59
EBT Excl. Non-Recurring Items Margin %	37.86	16.76	14.22	16.81	21.85
Income From Continuing Operations Margin %	22.91	6.73	6.76	7.45	6.1
Net Income Margin %	23.1	7.23	7.86	9.21	6.11
Net Avail. For Common Margin %	23.1	7.23	7.86	9.21	6.11
Normalized Net Income Margin	23.85	10.97	9.99	12.26	13.66
Asset quality
Nonperforming Loans / Total Loans %	13.39	14.47	14.66	14.32	12.79
Nonperforming Loans / Total Assets %	11.34	12.62	12.43	12.25	10.98
Nonperforming Assets / Total Assets %	11.34	12.62	12.43	12.25	10.98
NPAs / Loans and OREO	13.39	14.47	14.66	14.32	12.79
NPAs / Equity	107.73	109.9	115.87	119.07	114.44
Allowance for Credit Losses / Net Charge-offs %	8.86K	4.13K	5.6K	5.47K	908.12
Allowance for Credit Losses / Nonperforming Loans %	83.09	86.96	88.48	88.32	89.58
Allowance for Credit Losses / Total Loans %	11.13	12.58	12.97	12.65	11.46
Provision for Loan Losses / Net Charge-offs %	581.12	509.66	433.18	401.1	77.74
Capital And Funding
Total Average Common Equity / Total Average Assets %	10.46	10.94	11.07	10.48	9.9
Total Average Equity / Total Average Assets %	10.5	10.99	11.11	10.5	9.93
Total Equity + Allowance for Loan Losses / Total Loans %	23.49	25.69	25.59	24.64	22.59
Gross Loans / Total Deposits %	119.14	121	121.13	120.64	122.43
Net Loans / Total Deposits %	105.88	105.78	105.42	105.38	108.41
Tier 1 Capital Ratio %	-	-	-	10.65	-
Total Capital Ratio %	-	-	-	13.16	13.4
Core Tier 1 Capital Ratio	-	-	-	10.65	-
Tier 2 Capital Ratio	-	-	-	2.5	-
Coverage Ratio	83.09	86.96	88.48	88.32	89.58
Interbank Ratio	43.65	38.38	29.78	27.23	-
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	2.18	1.49	1.53	1.53	1.55
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	-0.98	1.38	0.02	-1.96	5.93
Non Interest Income, 1 Yr. Growth %	7.8	-5.24	-1.14	4.78	32.49
Provision For Loan Losses, 1 Yr. Growth %	-8.07	104.74	-36.17	-2.39	12.78
Total Revenues, 1 Yr. Growth %	2.76	-17.9	14.8	0.09	12.51
Earnings From Cont. Operations, 1 Yr. Growth %	6.82	-75.87	15.21	10.85	-7.5
Net Income, 1 Yr. Growth %	8.35	-74.3	24.83	17.78	-25.1
Normalized Net Income, 1 Yr. Growth %	10.77	-62.24	4.56	23.46	25.82
Diluted EPS Before Extra, 1 Yr. Growth %	8.35	-74.3	24.83	17.78	-25.1
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	0
Gross Loans, 1 Yr. Growth %	3.19	-5.79	-0.1	5.52	6.73
Allowance For Loan Losses, 1 Yr. Growth %	5.42	8.95	1.71	2.91	-3.33
Net Loans, 1 Yr. Growth %	2.91	-7.59	-0.37	5.91	8.19
Non Performing Loans, 1 Yr. Growth %	5.15	4.11	-0.04	3.1	-4.69
Non Performing Assets, 1 Yr. Growth %	5.15	4.11	-0.04	3.1	-4.69
Total Assets, 1 Yr. Growth %	2.73	-6.45	1.5	4.65	6.28
Total Deposits, 1 Yr Growth %	-0.29	-5.11	-1.13	5.95	5.17
Tangible Book Value, 1 Yr. Growth %	1.98	1.96	-6.69	0.11	-1.27
Common Equity, 1 Yr. Growth %	3.05	2.21	-5.02	0.21	-0.87
Total Equity, 1 Yr. Growth %	3.22	2.05	-5.19	0.33	-0.83
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	-1.56	0.19	0.7	-0.97	1.91
Non Interest Income, 2 Yr. CAGR %	8.78	1.07	-3.21	2.66	18.57
Provision For Loan Losses, 2 Yr. CAGR %	-8.35	37.19	14.32	-21.06	4.92
Total Revenues, 2 Yr. CAGR %	2.51	-8.15	-2.92	7.46	6.32
Earnings From Cont. Operations, 2 Yr. CAGR %	4.84	-49.23	-47.27	13.01	1.26
Net Income, 2 Yr. CAGR %	5.16	-47.23	-43.36	21.25	-6.08
Normalized Net Income, 2 Yr. CAGR %	5.12	-35.32	-37.16	13.62	24.64
Diluted EPS Before Extra, 2 Yr. CAGR %	5.16	-47.23	-43.36	21.25	-6.08
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-35.3	-
Gross Loans, 2 Yr. CAGR %	4.91	-0.28	-2.95	2.67	6.13
Allowance For Loan Losses, 2 Yr. CAGR %	4.13	7.17	5.27	2.31	-0.26
Net Loans, 2 Yr. CAGR %	5.01	-1.23	-3.51	2.72	7.04
Non Performing Loans, 2 Yr. CAGR %	-	4.63	2.02	1.52	-0.87
Non Performing Assets, 2 Yr. CAGR %	-	4.63	2.02	1.52	-0.87
Total Assets, 2 Yr. CAGR %	4.73	-1.97	-2.56	3.06	5.46
Total Deposits, 2 Yr CAGR %	3.62	-2.73	-3.3	2.35	5.56
Tangible Book Value, 2 Yr. CAGR %	-3.84	1.97	-2.46	-3.35	-0.58
Common Equity, 2 Yr. CAGR %	-3.28	2.63	-1.47	-2.44	-0.33
Total Equity, 2 Yr. CAGR %	-3.16	2.64	-1.64	-2.47	-0.25
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	-1.87	-0.59	0.13	-0.2	1.28
Non Interest Income, 3 Yr. CAGR %	7.02	3.89	0.33	-0.05	12.24
Provision For Loan Losses, 3 Yr. CAGR %	-8.99	19.81	6.31	8.46	-11.09
Total Revenues, 3 Yr. CAGR %	1.96	-4.8	-1.06	-1.76	9.26
Earnings From Cont. Operations, 3 Yr. CAGR %	11.51	-35.75	-33.28	-32.46	5.71
Net Income, 3 Yr. CAGR %	11.94	-34.25	-29.69	-27.7	3.26
Normalized Net Income, 3 Yr. CAGR %	3.74	-25.27	-24.09	-21.3	17.55
Diluted EPS Before Extra, 3 Yr. CAGR %	11.94	-34.25	-29.69	-27.7	3.26
Dividend Per Share, 3 Yr. CAGR %	-	12.75	-	-	-25.19
Gross Loans, 3 Yr. CAGR %	3.09	1.98	-0.63	-0.2	4.01
Allowance For Loan Losses, 3 Yr. CAGR %	9.42	5.71	5.32	4.48	0.39
Net Loans, 3 Yr. CAGR %	2.4	1.49	-1.41	-0.46	4.51
Non Performing Loans, 3 Yr. CAGR %	-	-	3.05	2.37	-0.59
Non Performing Assets, 3 Yr. CAGR %	-	-	3.05	2.37	-0.59
Total Assets, 3 Yr. CAGR %	3.39	0.86	-0.83	-0.21	4.13
Total Deposits, 3 Yr CAGR %	2.19	0.63	-2.3	-0.31	3.28
Tangible Book Value, 3 Yr. CAGR %	-5.45	-1.95	-1	-1.61	-2.66
Common Equity, 3 Yr. CAGR %	-4.86	-1.49	0.01	-0.91	-1.92
Total Equity, 3 Yr. CAGR %	-4.81	-1.46	-0.04	-0.99	-1.93
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	-2.12	-1.79	-0.85	-0.74	0.84
Non Interest Income, 5 Yr. CAGR %	1.29	2.2	2.81	3.39	7.63
Provision For Loan Losses, 5 Yr. CAGR %	-14.83	1.4	-0.3	1.39	5.75
Total Revenues, 5 Yr. CAGR %	2.71	-1.82	-0.02	-0.07	1.93
Earnings From Cont. Operations, 5 Yr. CAGR %	10.43	-21.99	-17.36	-19.47	-21.17
Net Income, 5 Yr. CAGR %	10.67	-20.85	-14.76	-16.01	-21.05
Normalized Net Income, 5 Yr. CAGR %	7.2	-14.2	-15.11	-11.64	-7.44
Diluted EPS Before Extra, 5 Yr. CAGR %	10.67	-20.85	-14.76	-16.01	-21.05
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-9.71	-
Gross Loans, 5 Yr. CAGR %	1.79	1.98	0.82	2	2.02
Allowance For Loan Losses, 5 Yr. CAGR %	8.55	8.14	7.74	4.34	3.05
Net Loans, 5 Yr. CAGR %	1.11	1.25	-0.01	1.69	1.89
Non Performing Loans, 5 Yr. CAGR %	-	-	-	-	1.46
Non Performing Assets, 5 Yr. CAGR %	-	-	-	-	1.46
Total Assets, 5 Yr. CAGR %	1.44	1.28	0.97	1.74	1.64
Total Deposits, 5 Yr CAGR %	0.6	0.37	-0.04	1.25	0.77
Tangible Book Value, 5 Yr. CAGR %	-3.05	-2.9	-4.27	-2.51	-0.84
Common Equity, 5 Yr. CAGR %	-2.59	-2.43	-3.52	-1.87	-0.12
Total Equity, 5 Yr. CAGR %	-2.58	-2.44	-3.55	-1.86	-0.13