Attijari Global Research (AGR) claims his recommendation for the purchase for the BMCI title, with a characteristic goal of 665 dirhams being confirmed. Since his last research note published in February 2024, the campaign has increased by 16 %and achieved the initial goal in January 2025.
In a cheap banking environment, AGR believes that BMCI still has a potential for improvement, especially in the company coefficient and the group’s net profit. In 2024, the net banking product rose by 10.2 %, which was largely drawn by the increase in the interest site.
However, the risk costs rose by 27.9 %, which is a result of an increased care effort. The RNPG is 325 mDH, somewhat below the forecasts, while the dividend remains stable at 18 dH and at 30 DH at 30 DH.
M.Ba.
