Key figures - BNP Paribas

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Key figures - BNP Paribas

Key figures

2011

www.bmci.ma


Consolidated key figures

As at December 31, 2010

BMCI group maintained in 2011 its sustained efforts to develop and diversify

its activities thanks to the effective contribution of the Bank’s lines of business

and subsidiaries. With the support of its internationally renowned reference

shareholder, BnP Paribas group, BMCI also managed to strengthen the synergies

between its different activities while developing its commercial network, with

the opening of about 40 new branches.

CustoMER DEPosIts

MAD 51.9 BIllIon : +4.7%

Customer deposits amounted to MAd 51.9 billion at

year end, increasing by 4,7%. Sight deposits posted a

3.4% rise, reaching an average volume of 23.4 billion. 4,7%

CustoMER loAns

MAD 52.6 BIllIon : + 11%

Confirming the dynamism of its activities, customer

loans amounted to MAd 58.4 billion at year end,

increasing by 11%.

nEt BAnkIng InCoME

MAD 3.1 BIllIon : +7.5%

the Net banking Income posted a 7.5% rise, reaching

MAd 3.1 billion. Interest margin went from MAd 2.3

billion in 2010 to MAd 2.4 billion in 2011, increasing

by 7.1%. Commissions posted a 3.3% rise, reaching

MAd 388 million. Market transactions rose by 2.4% and

amounted to MAd 156.7 million at year end.

Cost / InCoME RAtIo : 42.1%

11%

7.5%

2010

2011

MAD BIllIon

2010

2011

MAD BIllIon

2010

2011

MAD BIllIon

49.6

52.6

51.9

58.4

In 2011, bMCI pursued its investment policy in order to develop its infrastructures, notably through the implementation

of the Multichanel platform. this year was marked by the development of the network at an accelerated pace, with 40

new openings in 2011, reaching 300 branches at year end.

reflecting these large-scale projects, operating expenses increased by 13.5% and reached MAd 1.29 billion, while cost /

income ratio amounted to 42.1%.

2.8

3.1


Landmarks

+ 7.5 %

+3.3 %

3.1

MAD BILLION

ConsolIDAtED nEt BAnkIng InCoME

813.3

MAD MILLION

nEt InCoME gRouP shARE

gRoss oPERAtIng InCoME

MAD 1.8 BIllIon : +3.5%

the Gross Operating Income posted a 3.5% rise, reaching

MAd 1.8 bilion at year end.

Cost of RIsk

MAD 296.3 MIllIon: +9.7%

the Cost of risk amounted to MAd 325.1 million at year

end, notably including bMCI CrEdIt CONSO for the first

time.

nEt InCoME

MAD 823.9 MIllIon : +2.2%

Consolidated Net Income amounted to MAd 823.9

million, rising by 2.2%, thus reflecting the effective

contribution of the bank’s subsidiaries.

fItCh RAtIngs

+11 %

+4.7 %

+6.3 %

3.5%

9.7%

2.2%

58.4

MAD BILLION

CustoMER loAns

51.9

MAD BILLION

CustoMER DEPosIts

7.8

MAD BILLION

ConsolIDAtED stoCkholDERs’ EquItIEs

2010

2011

MAD BIllIon

2010

2011

MAD MIllIon

2010

2011

MAD MIllIon

Fitch international rating agency confirmed the bank’s ratings for 2011 :

Long-term rating : AAA (mar)

Long-term rating outlook: Stable

Short-term rating : F1+ (mar)

Support rating : 2

the excellent level of these ratings reinforces the bank’s financial strength and its capacity to meet its financial

commitments.

1.7

1.8

296.3

805.8

325.1

823.9


CAPItAl stRuCtuRE

AS At dECEMbEr 31, 2010

16.932 % othERs

66.738 % BnP Paribas BDDI - Participations

PARtICIPAtIons stRuCtuRE

AS At dECEMbEr 31, 2010

BMCI Leasing 72,03 %

BMCI assurance 100 %

BMCI Banque OffshOre 100 %

BMCI DéveLOppement 100 %

ConsolIDAtED BAlAnCE shEEt

AS At dECEMbEr 31, 2010

In thousands of MAd

3.596 % sAnAD

4.185 % AtlAntA

8.549 % AXA Assurance Maroc

Capital : MAD 1 327 884 300

Nb: bMCI’shares are dematerialized and listed on the Casablanca stock exchange.

the shares of the main shareholders mentioned opposite are registered with

bMCI. We cannot know the identity of bMCI shareholders whose shares are

registered with other banks.

BMCI BOurse 100 %

BMCI finance 100 %

BMCI gestiOn 100 %

BDsI 11 %

BnP Paribas Med It 10 %

BnP Paribas Med BP 4 %

BMCI Crédit Conso* 99.87 %

ARvAl Maroc 33.34 %

*resulting from the takeover bewteen Cetelem Maroc and the

former bMCI Crédit Conso in July 2011

AssEts 31/12/11 31/12/10 lIABIlItIEs 31/12/11 31/12/10

Cash and amounts due from central banks

due to central banks and post office banks

and post office banks 3 121 376 3 891 865 Financial liabilities at fair value through profit or loss 43 060 21 987

Financial assets at fair value through profit or loss 1 878 911 783 127 derivatives used for hedging purposes

derivatives used for hedging purposes

due to credit institutions 9 960 681 7 339 738

Available-for-sale financial assets 4 192 818 3 130 263 dettes envers la clientèle 43 483 052 42 643 318

Loans and receivables due from credit institutions 1 825 333 3 932 799

debt securities 8 463 818 6 949 583

Loans and receivables due from customers 58 431 263 52 629 091 remeasurement adjustment on interest-rate risk hedged portfolios

remeasurement adjustment on interest-rate risk hedged portfolios

Current tax liabilities 12 703 10 074

held-to-maturity financial assets

deferred tax liabilities 156 358 127 233

Current tax assets 92 596 13 293 Accrued expenses and other liabilities 1 608 113 1 598 408

deferred tax assets 100 292 44 391 Liabilities related to non-current assets held for sale

Accrued income and other assets 328 697 345 360 technical reserves of insurance companies

Non-current assets held for sale

Provisions for contingencies and charges 248 827 262 150

Investments in associates 8 728 6 331 Subsidies, allocated public funds and special guaranty funds

Investment property 20 522 21 472 Subordinated debt

Property plant and equipment 1 501 228 1 324 897 Share capital and additional paid-in capital 4 595 648 4 560 648

Intangible assets 197 987 179 250 retained earnings 2 376 729 1 969 709

Goodwill 87 720

Unrealised or deferred gains or losses, Group share 14 545 13 449

Net income of fiscal year 823 937 805 840

Stockholders’ Equities 7 810 860 7 349 646

totAl AssEts 71 787 472 66 302 138 totAl lIABIlItIEs 71 787 472 66 302 138


shAREholDER InfoRMAtIon (on thE BAsIs of fInAnCIAl stAtEMEnts)

AS At dECEMbEr 31. 2010

Corporate financial statements

In thousAnDs

of MAD

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Capital 775 173 775 173 828 599 828 759 1 000 272 1 055 135 1 283 592 1 327 884 1 327 884 1 327 884

Equity 2 291 791 2 388 553 2 797 189 2 959 071 3 353 635 4 050 907 6 217 252 6 893 885 7 061 833 7 572 473

Net income 309 884 327 482 376 591 492 482 535 274 666 028 728 675 806 985 818 302 841 349

Growth over the year 6% 15% 31% 9% 24% 9% 11% 1% 3%

Total balance sheet 25 558 424 26 985 490 32 105 285 36 165 046 42 569 651 55 638 362 59 449 742 57 624 106 58 449 297 62 700 025

Growth over the year 6% 19% 13% 18% 31% 7% -3% 1% 7%

Market-capitalisation 3 852 610 4 790 569 5 965 913 6 340 006 10 402 829 12 081 296 11 809 046 12 282 927 13 677 205 12 017 350

historical market performance of BMCI stock (in MAD)

Earnings per share 39.98 42.25 45.45 59.42 53.51 63.12 56.77 60.77 61.62 63.36

Net asset per share 295.65 308.13 337.58 357.05 335.27 383.92 484.36 519.16 531.81 570.27

Dividend per share 30 33 40 20 40 20 40 50* 25 25

Lowest 451 485 616 667 765 1041 796 750 820 790

Highest 510 625 730 820 1 389 1 400 1 158 1 000 1 078 1 130

Last listed prices 497 618 720 765 1 040 1 145 920 925 1 030 905

PER 12.43 14.63 15.84 12.87 19.43 18.14 16.21 15.22 16.71 14.28

P/B 1.68 2.01 2.13 2.14 3.10 2.98 1.90 1.78 1.94 1.59

P/O (%) 75.04 78.11 88.01 33.66 74.75 31.68 70.46 82.27 40.57 39.46

D/Y (%) 6.04 5.34 5.56 2.61 3.85 1.75 4.35 5.41 2.43 2.76

PEr: price / earnings per share

P/b: price / net asset per share

P/O (%) : dividend / earnings per share

P/Y (%) : dividend yield

* the dividend has reached MAd 50 for the 1 st line shares and MAd 25 for the 2 d line shares

stoCk ChARt

AS At dECEMbEr 31, 2010

In MAD

1 200

1 100

1 000

900

800

700

600

jan-11 feb-11 mar-11 apr-11 jun-11 jul-11 sep-11 oct-11 nov-11 dec-11

BMCI MASI

MASI : Moroccan All Shares Index.

Index of the market capitalization of all the securities listed on the Casablanca Stock Exchange

As at December, 31, 2011, BMCI posts a 2011 PER of 14.28 against 29.94 for the sector, thus representing one of the

most attractive PER of the listed companies.

14 000

13 000

12 000

11 000

10 000

9 000

In points


BANQUE MAROCAINE POUR LE COMMERCE ET L’INDUSTRIE

Public limited company with a supervisory board and a management board

with a capital of MAD 1,327,884,300 Dirhams

Head Office : 26, place des Nations Unies - Casablanca - Morocco

Tel : +212 (0) 5 22 46 10 00 - Fax : +212 (0) 5 22 29 94 06

suPERvIsoRy AnD MAnAgEMEnt BoARD

AS At dECEMbEr 31, 2010

HONORARY CHAIRMEN

Mohamed bENKIrANE

Mustapha FArIS

suPERvIsoRy

BoARD

CHAIRMAN

Mourad ChErIF

VICE-CHAIRMAN

Michel PEbErEAU

MEMBERS

Christian AUbIN

Mohamed hassan bENSALAh

Marie-Claire CAPObIANCO

André ChAFFrINGEON

Mustapha FArIS

Alain FONtENEAU

AXA ASSUrANCE MArOC

bNP PArIbAS bddI-Participations

Assurance SANAd

MAnAgEMEnt BoARD

CHIEF ExECUTIVE OFFICER

Jacques ArdANt

GENERAL MANAGER

rachid MArrAKChI

MEMBERS

Guillaume CUrNIEr

Alain dALLArd

Mohamed KEttANI hASSANI

Najib rAIhANI

www.bmci.ma

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