Latest financial news
| MOROCCO | ATTIJARIWAFA BANK | NIGS up 15% at the end of September 2025
As of the end of September 2025, Attijariwafa bank recorded a significant improvement in its financial indicators:
- NBI stood at MAD 26,354 million compared to MAD 25,173 million a year earlier, marking an increase of 4.7%.
- Gross Operating Income reached MAD 16,789 million versus MAD 16,119 million, representing growth of 4.2%.
- The GOI margin slightly declined to 63.7% from 64.0%, down by 0.3 point.
- Cost of risk decreased to MAD 2,661 million compared to MAD 3,274 million, showing a drop of 18.7%.
- NIGS rose to MAD 8,277 million versus MAD 7,204 million, an increase of 14.9%.
- The net margin improved to 31.4% from 28.6%, gaining 2.8 points.
| MOROCCO | BCP | NIGS up 9% at the end of September 2025
As of the end of September 2025, Banque Centrale Populaire (BCP) reported an improvement in its results:
- NBI reached MAD 20,404 million compared to MAD 19,590 million a year earlier, an increase of 4.2%.
- Gross Operating Income stood at MAD 11,907 million versus MAD 11,310 million, recording growth of 5.3%.
- The GOI margin strengthened to 58.4% from 57.7%, gaining 0.7 point.
- Cost of risk decreased to MAD 3,569 million compared to MAD 4,271 million, a drop of 16.4%.
- NIGS rose to MAD 4,287 million versus MAD 3,932 million, up 9.0%.
- The net margin improved to 21.0% from 20.1%, showing a gain of 0.9 point.
| MOROCCO | TAQA MOROCCO | NIGS down 10% at the end of September 2025
As of the end of September 2025, TAQA Morocco recorded a decline in its main financial indicators:
- Revenue stood at MAD 7,957 million compared to MAD 8,134 million over the first nine months of 2024, a decrease of 2.2%.
- EBITDA fell to MAD 2,415 million versus MAD 2,590 million, showing a drop of 6.8%.
- The EBITDA margin contracted to 30.4% from 31.8%, down by 1.4 point.
- NIGS decreased to MAD 681 million compared to MAD 756 million, a decline of 9.9%.
- The net margin weakened to 8.6% from 9.3%, down by 0.7 point.
| MOROCCO | LABEL VIE | Consolidated revenue up 12% at the end of September 2025
In Q3 2025, Label Vie posted a consolidated revenue of MAD 4,867 Mn compared to MAD 4,308 Mn a year earlier, i.e. an increase of 13.0%. In this context, the Group's consolidated revenue stood at MAD 13,595 Mn at the end of September 2025, up 12.4%
Economic news
| MOROCCO | SURVEY | The Capacity Utilization Rate up to 80% in September 2025
The results of Bank Al-Maghrib's monthly business survey for the month of September 2025 show an increase in production and sales compared to the previous month. In this context, the production capacity utilization rate settled at 80% against 79% in August 2025. Furthermore, orders would have remained stable in September 2025 while order books would have settled at a level below normal.
| TUNISIA | FOREIGN TRADE | Widening of the trade deficit at the end of October 2025
At the end of October 2025, Tunisia's exports increased by 1.1% to TND 52,214.0 Mn. Likewise, imports rose by 4.9% during the same period to TND 70,649.8 Mn. In this context, the trade deficit went from TND -15,716.4 Mn at the end of October 2024 to TND -18,435.8 Mn at the end of October 2025. Finally, the coverage rate stood at 73.9% during the first ten months of 2025, down 2.8 points.
