{
  "id": 10415334,
  "title": "Bank of Africa reports 10% rise in first-half net income",
  "url": "https://urgent.news/2026/09/28/bank-of-africa-reports-10-rise-in-first-half-net-income",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T09:54:35.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/bank-of-africa-reports-10-rise-in-firsthalf-net-income-93CH-4919663"
  },
  "original_language": "en",
  "account": "Casablanca - Bank of Africa announced a 10% increase in net income attributable to shareholders to MAD 2.5 billion for the six months ending June 30, 2026, as highlighted in a press release. The bank's consolidated net banking income saw a 1% growth, reaching MAD 10.5 billion during the same period. Fee income experienced a 10% rise, while net interest income expanded by 7%. However, market operations income saw a significant 37% decline following a strong performance in the previous year. Customer loans, excluding resales, increased by 4% to MAD 243 billion, while customer deposits, excluding repos, grew 4% to MAD 286 billion. General operating expenses rose by 8% due to IT investments in Morocco, raising the cost-to-income ratio to 44.2% from 41.5% in June 2025. The consolidated cost of risk decreased by 16% to MAD 1.4 billion, improving the cost-of-risk ratio to 1% from 1.5% the previous year. At the parent company level, Bank of Africa S.A.'s net income grew by 4% to MAD 1.9 billion, while market operations income fell by 3% to MAD 5.3 billion. Customer loans at the parent level increased by 5.6% to MAD 157 billion, with customer deposits up by 5% to MAD 178 billion. Total assets of the group grew by 5% to MAD 460 billion. The bank's coverage ratio improved to 70.5% from 69.5% in December 2025, and shareholders' equity increased by 6% to MAD 33.7 billion. The bank's board of directors reviewed these results in a meeting held on September 25, 2026, at its Casablanca headquarters. Bank of Africa operates across 32 countries, employing around 15,300 people and serving approximately 6.6 million customers.",
  "summary": null,
  "key_points": [
    "Bank of Africa reports 10% rise in first-half net income to MAD 2.5 billion",
    "Fee income up 10%, net interest income up 7%",
    "Customer loans and deposits increase 4% each"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}