Shy credit growth …
BCP's 9M 2015 NBI increased by 3.4%, yoy, contracted by reduced commission margins and investment income (vs. an Interest margin improvement by 9.2%, yoy, to MAD5.277bn). Despite the important increase in the operating charges, the Net Result reached MAD1.236bn vs. MAD1.130bn in the same period of 2014, thanks to the effective control the Cost of Risk. BCP succeeded in collecting deposits at a rate higher by 2.7% (compared to December, 2014) to MAD236.226bn, but the granted loans increased at a slower pace: +1.2% to MAD208.514bn.
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