Latest financial news
| MOROCCO | MAROC TELECOM | Recurring NIGS down 5% in 2025, DPS raised to MAD 4
In 2025, Maroc Telecom delivered stable revenues of MAD 36.681 million, broadly in line with the MAD 36.704 million posted in 2024, reflecting only a marginal decline of 0.1%.
Adjusted EBITDA came in at MAD 18.493 million, down 3.6% year‑on‑year, leading to a softening of the EBITDA margin from 52.3% to 50.4% (‑1.9 pts).
Adjusted NIGS at MAD 5.649 million, compared to MAD 5.938 million a year earlier, marking a 4.9% decrease. The net margin also narrowed slightly, moving from 16.2% to 15.4% (‑0.8 pt).
On the other hand, reported NIGS showed a sharp recovery, reaching MAD 6.969 million in 2025 - an improvement of MAD 5.177 million over the MAD 1.792 million recorded in 2024. Finally, the Dividend Per Share (DPS) saw a strong uplift, rising from 1.43 DH to 4.00 DH, an increase of 179.7%.
| MOROCCO | CRÉDIT DU MAROC | NIGS up 17% in 2025, DPS raised to MAD 48
In 2025, Crédit du Maroc reported NBI of MAD 3,568 million, compared with MAD 3,303 million in 2024, representing an increase of 8.0%. Gross Operating Income also strengthened, reaching MAD 1,916 million in 2025 versus MAD 1,698 million a year earlier, up 12.8%. This operational momentum supported an improvement in the GOI margin, which rose from 51.4% to 53.7%, an increase of 2.3 percentage points.
The cost of risk declined slightly, moving from MAD 398 million in 2024 to MAD 383 million in 2025, a reduction of 3.8%. As a result, NIGS increased to MAD 864 million in 2025, compared with MAD 741 million in 2024, marking growth of 16.5%. The net margin improved from 22.4% to 24.2%, up 1.8 percentage points. Finally, the Dividend Per Share (DPS) amounted to 48.0 dirhams in 2025, compared with 41.7 dirhams in 2024, representing an increase of 15.1%.
Economic news
| TUNISIA | MONETARY POLICY | The Central Bank keeps the key rate unchanged at 7.0%
Following its monetary policy meeting held on February 11th 2026, the Central Bank of Tunisia (BCT) decided to keep the key rate unchanged at 7.0%.
