Latest financial market news
Bank of Africa: NIGS up 16% in H1 2025
Net Banking Income (NBI) increased from MAD 9,572 million in H1 2024 to MAD 10,349 million in 2025. Gross Operating Income (GOI) followed the same trend, rising from MAD 5,397 million to MAD 6,051 million, leading to an improvement in the GOI margin from 56.4% to 58.5%. The cost of risk slightly decreased, moving from MAD 1,785 million to MAD 1,642 million over the same period. Net Income Group Share (NIGS) reached MAD 2,251 million in 2025 compared with MAD 1,942 million a year earlier, while the net margin edged up from 20.3% to 21.8%.
Marsa Maroc: NIGS up 23% in H1 2025
Marsa Maroc reported revenue of MAD 2,842 million in H1 2025, compared with MAD 2,482 million in 2024. EBIT increased from MAD 1,074 million to MAD 1,289 million, resulting in an EBIT margin of 45.3% versus 43.3% a year earlier. Net Income Group Share (NIGS) came in at MAD 773 million versus MAD 626 million previously, lifting the net margin from 25.2% to 27.2%.
Label Vie: NIGS up 4% in H1 2025
Label Vie reported revenue of MAD 8,728 million in H1 2025, up from MAD 7,783 million a year earlier. EBIT rose from MAD 304 million to MAD 323 million, although the EBIT margin narrowed slightly from 3.9% to 3.7%. Net Income Group Share (NIGS) amounted to MAD 270 million, compared with MAD 259 million in 2024, bringing the net margin from 3.3% to 3.1%.
SNEP: A loss of MAD -91 Mn in H1 2025
Revenue increased from MAD 256 million in H1 2024 to MAD 360 million in 2025. EBIT remained negative at –MAD 82 million in 2025 compared with –MAD 35 million a year earlier. Net Income Group Share (NIGS) was also in negative territory, at –MAD 91 million versus –MAD 32 million in 2024.
Auto Hall: Income before tax up 46% in H1 2025
Revenue rose from MAD 2,432 million in H1 2024 to MAD 2,677 million in 2025. EBITDA increased from MAD 177 million to MAD 241 million, lifting the EBITDA margin from 7.3% to 9.0%. Income before tax reached MAD 89 million compared with MAD 61 million a year earlier.
Risma: NIGS up 56% in H1 2025
Revenue amounted to MAD 653 million in H1 2025, up from MAD 597 million in 2024. EBITDA advanced from MAD 205 million to MAD 246 million, taking the EBITDA margin from 34.3% to 37.7%. Net Income Group Share (NIGS) stood at MAD 117 million versus MAD 75 million previously, while the net margin increased from 12.6% to 17.9%.
Economic news
MOROCCO | RATING: S&P upgrades Morocco's sovereign debt rating to BBB-/A-3 with a stable outlook
The international rating agency Standard & Poor's upgraded Morocco's long and short term sovereign credit ratings from BB+/B to BBB-/A-3 with a stable outlook.
BENIN | GDP: A growth rate of 7.6% in Q2 2025
According to the National Institute of Statistics and Demography (INStaD), the growth rate of the Beninese economy reached 7.6% in Q2 2025. This was driven by the primary (+6.1%), secondary (+9.1%) and tertiary (+7.5%) sectors.
