CDG Capital improves its NIGS by 49.9% in the first half

CDG Capital’s net income group share (RNPG) stood at 46.7 million dirhams (MDH) in the first half of 2022, up 49.9% year-on-year.

This result takes into account a favorable evolution of the cost of risk resulting in net reversals of 5 MDH, indicates CDG Capital in a press release.

Net banking income (NBI) increased by 21% to 176 million dirhams, thanks to the dynamics of market activities and commissions on services. General operating expenses, including depreciation allowances, increased by 7% to 109 million dirhams, leading to a gross operating profit up by 54% to 66.7 million dirhams.

In social terms, NBI posted growth of 21.6% to 157.4 million dirhams year-on-year, driven by the good momentum of market activities and commissions, in a context of rising refinancing costs.

Gross operating income improved by 47.4% to 66 MDH, taking into account an evolution contained at 6.3% of general operating expenses to 91 MDH against 85.5 MDH a year earlier. CDG Capital’s net profit reached 62 MDH, up 40.3% compared to the same period in 2021.

Regarding the bank’s financial debt, which consists mainly of money market instruments, it stood at 9.3 billion dirhams (MMDH) at the end of June 2022, against 8.6 billion dirhams at 31 December 2021.

CDG Capital’s prudential equity stood at 1.4 billion dirhams, resulting in a solvency ratio of 18.4%. The Bank maintains a solid liquidity profile, with an average short-term liquidity ratio (LCR) of 158% in the first half of 2022.

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