Credit Immobilier et Htelier Societe Anonyme: Financial results as of June 30, 2021

Credit Immobilier et Htelier Societe Anonyme: Financial results as of June 30, 2021
Credit Immobilier et Htelier Societe Anonyme: Financial results as of June 30, 2021

Social figures

Customer deposits: MAD 53 billion (+ 5.6%)

Customer loans: MAD 55 billion (+ 3.6%)

PNB: +1.263 MDH (+ 11.6%) (**)

RN : 268 MDH (+225%) (**)

Under the Chairmanship of Mr. Lotfi SEKKAT, the Board of Directors of CIH BANK met on Wednesday September 15, 2021 to examine the activity and the corporate and consolidated results as of June 30, 2021, as well as the various points listed in its agenda.

Highlights of the first half of 2021

During the first half of 2021, the CIH BANK Group continued to support its customers in a context which remains impacted by the COVID-19 health crisis.

Thus, the Bank has actively contributed to the financing of the economy through, on the one hand, the “Damane relaunch” products intended to revive the activity of companies, particularly small businesses, and on the other hand, through the program. “Intelaka” aimed at supporting young entrepreneurs.

These achievements were carried out while maintaining the system put in place by the Bank to protect employees, customers and the various stakeholders.

On the activity side, CIH BANK is pursuing its commercial dynamic in terms of collecting deposits and distributing loans, through offers focused on digital and adapted to customer needs. In this context, the Bank has launched a new version of remote account opening according to a fully digital process, based on new, secure technologies and respecting the regulatory requirements in force.

In addition, and for better proximity to its customers, the Bank continued to enrich its digital channel with new offers and functionalities from CIH Mobile and CIH Net, and developed its network with the opening of 3 new agencies.

Commercial results (Consolidated figures)

With a net inflow of 3.7 billion dirhams, customer deposits increased by + 6.8% compared to December 2020, and stood at 57.4 billion dirhams. On an individual basis, these deposits are mainly composed of those of CIH BANK up to 52.8 billion dirhams and those of Umnia BANK up to 2.4 billion dirhams.

On-sight resources constitute 77% of the collection carried out, thus showing an increase of + 8% compared to December 2020 and an increase of 26% compared to June 2020.


Customer deposits (and MMDH)

48,4 53,8


June. 20

Dec. 20

June 21

Up 6.3% compared to December 2020, consolidated loan outstandings reached 66.9 billion dirhams. On an individual basis, CIH BANK’s credits stand at MAD 54.3 billion, while SOFAC and UMNIA BANK contribute respectively up to MAD 8.5 billion and MAD 4.1 billion. Representing 53% of outstanding consolidated loans, loans excluding real estate recorded an increase of 8% compared to December 2020, to stand at MAD 35.4 billion. The Bank is thus consolidating its policy of diversifying customer jobs.

Customer loans (and MMDH)

Loans excluding real estate

(and MMDH)



Consolidated figures

Customer deposits: 57 billion dirhams (+ 6.8%)

Customer loans: 67 billion dirhams (+ 6.3%)

PNB: +1.501 MDH (+ 7%) (**)

RNPG : +265 MDH (+479%) (**)

Evolution compared to December 2020 (**) Evolution compared to June 2020

The total consolidated balance sheet stands at MAD 95.2 billion, up 6.3% compared to December 2020. Profitability indicators

Consolidated NBI stands at MAD 1,500.6 million, an increase of + 7% compared to June 2020. This change results mainly from the increase in the net interest margin of 23.1% under the effect of the growth in commercial activity.

Net Banacaire Product




In terms of social security, CIH BANK’s net banking income stood at MAD 1,263.4 million, up + 11.6% compared to June 2020.

  • Consolidated gross operating income stood at MAD 652.9 million, up + 48.7% compared to June 2020.

The cost of risk on a consolidated basis stands at MAD 221 million, showing a decrease of -46.7% compared to June 2020. Thus, the cost of risk rate is 0.31% against 0.68% a year earlier.

In social terms, the cost of risk amounted to MAD 176.1 million, i.e. a decrease of -42.1%, corresponding to a cost of risk rate of 0.30% against 0.53% in June 2020.

Net income, Group share stood at 264.6 MDH at the end of June 2021 against 45.7 MDH at the end of June 2020 (excluding donations to the COVID fund, the net profit at the end of June 2020 would stand at 140.2 MDH).

In terms of the company, the net profit at the end of June 2021 amounted to 267.7 MDH against 82.4 MDH compared to

the same period in 2020 (excluding donation to the COVID fund, the net income at the end of June 2020 would stand at 129.6MDH).

Council decision

At the end of the presentation of the half-year results and after having heard the reports of the Audit and Risk Committees as well as the reports of the Statutory Auditors, the Board of Directors approved the parent company and consolidated accounts as of June 30, 2021.

The Board of Directors notes with satisfaction the commercial and financial performances achieved by the Bank during the first half of 2021.

The Board of Directors congratulates all the teams of the CIH BANK Group for their commitment and their mobilization in favor of customers.


Credit Immobilier Htelier Societe Anonyme Financial results June

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