Une activité commerciale de notre Scope 402 en progression de +5,1% à MAD 216,1 Md en 2021E profitant d’une reprise économique en cours.
Une capacité bénéficiaire en accroissement de +37,8% à MAD 23,4 Md sous l’effet de (i) la non-récurrence des Dons COVID effectués par les sociétés cotées et des provisions constatées en 2020 par les immobilières et (ii) l’amorce de la baisse du coût du risque pour les financières.
Retraité de l’impact des Dons COVID et des immobilières, le RNPG global 2021E affiche une hausse limitée à +5,7%.
BMCE Capital Global Research is a subsidiary of BMCE Capital Group dedicated to Research and Financial Analysis. It is addressed to professional investors (financial institutions, management companies, etc.) to which it provides information and independent analysis aligned with international standards. BMCE Capital Research covers equities, interest rate, Forex and commodities markets in Morocco, Tunisia and WAEMU region (Bourse Régionale des Valeurs Mobilières, BRVM). Thanks to its latest generation technology platform, to its teams and to those of its partners, the Research Office of BMCE Capital is now able to cover simultaneously several places in Africa and to produce several publications co-branded under its umbrella brand African Securities Network, ASN.
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