«"At the end of the 2024 financial year, the Bank recorded a profit of 6.46 billion dirhams compared to 5.1 billion dirhams a year earlier," the Central Bank indicated in its annual report on the economic, monetary and financial situation for the 2024 financial year.
Furthermore, the result of foreign exchange reserve management operations reached 8.74 MMDH, up 17%, driven mainly by an improvement in bond income thanks to the increased remuneration of foreign currency assets.
In addition, operations related to monetary policy generated a result of 3.95 billion dirhams, representing an increase of 271.3 trillion.
This increase is explained by a rise in monetary interventions in response to a more pronounced bank liquidity deficit, despite the reduction of the key interest rate to 2.5% in 2024.
On the other hand, the result of other operations remained stable at 1.27 billion dirhams, despite a decrease in commissions on foreign exchange and Treasury bill transactions, offset by the increase in sales of secure documents.
On the other hand, general operating expenses increased by 22%, reaching 2.54 MMDH, due in particular to increased operating expenses and higher depreciation allowances.
Despite this increase in expenses, the gross operating result thus increased by 17%, to 11.42 MMDH, demonstrating better overall profitability of the Bank thanks to its main activities.
Finally, the non-recurring result improved, with the loss falling from 997 MDH to 447 MDH, thanks to the settlement in 2024 of the social solidarity contribution due on the previous financial year.