Credit Populaire du Maroc records $83 million net income in 2001
Morocco’s Credit Populaire Du Maroc, the largest public bank in Morocco, posted a net operating income of 930 million Moroccan dirhams ($83 million) in 2001, reported Al-Hayat . This figure translates into a 33.3 percent increase compared with the previous year, in which the bank’s net income amounted to MD 689 million ($71 million).
The bank also announced that it has expanded its financial ventures by 10 percent, reaching 67.9 billion Moroccan dirhams (six billion dollars) in 2001. As a result, the bank now controls 20 percent of total banking operations in Morocco, placing it as the number one bank in the North African state and 10th in the Arab World. — (menareport.com)
© 2002 Mena Report (www.menareport.com)