Latest financial market news
CIH BANK: Strong earnings growth with NIGS up 39% in H1 2025
CIH Bank delivered a solid performance in the first half of 2025, with Net Banking Income (NBI) rising by 17.8% year-on-year to MAD 2,748 million. Gross Operating Income (GOI) also posted a strong increase of 20.7%, reaching MAD 1,576 million, driving an improvement in the GOI margin to 57.4%, up 1.4 percentage points.
The cost of risk grew by 12.6% to MAD 582 million, yet the Group’s Net Income (NIGS) surged by 39.2% to MAD 615 million. This strong bottom-line growth supported a 3.5-point increase in the net margin, which stood at 22.4% in H1 2025.
WAFA ASSURANCE: Steady revenue growth, NIGS up 1% in H1 2025
Wafa Assurance recorded a healthy 10.3% increase in revenue, amounting to MAD 7,883 million in the first half of 2025 compared with MAD 7,149 million a year earlier. Net Income Group Share (NIGS) grew marginally by 0.7% to MAD 692 million, while the net margin eased by 0.8 percentage point, to 8.8%.
DELTA HOLDING: NIGS down 12% in H1 2025, adjusted performance shows growth
Delta Holding reported revenues of MAD 1,333 million in H1 2025, down 3% compared with the same period last year. Earnings before Interest and Taxes (EBIT) rose by 13.7% to MAD 193 million, lifting the EBIT margin by 2.2 percentage points to 14.5%. However, Net Income Group Share (NIGS) declined by 11.9%, to MAD 125 million, driving the net margin down to 9.4% from 10.4%.
It should be noted that the H1 2024 results included a capital gain from the disposal of the Group’s stake in ISOSIGN. Excluding this non-recurring item, NIGS in H1 2025 shows an underlying improvement of 20% year-on-year.
MOROCCO | HPS: Signing of two new contracts in Asia
In a press release, HPS announced the signing of two major agreements with leading Asian financial institutions ranked among the Top 100 and Top 200 banks worldwide. Each contract is valued in the tens of millions of dollars and will be deployed in an On-Premise model, enabling HPS to recognize significant revenue and EBITDA contributions as early as H2 2025.
It is worth mentioning that the both agreements are based on PowerCARD V4, the latest generation of HPS’s flagship platform.
Economic news
NIGER | INFLATION: An inflation rate of -9.0% in August 2025
According to the National Institute of Statistics of Niger (INS), the Harmonized Consumer Prices Index decreased by 2.0% in August 2025 compared to the previous month. On an annual basis, the inflation rate stood at -9.0%.
