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This performance takes into account the volume of activity, the quality of the Bank’s loan portfolio as well as the continued optimization of the cost of financing resources, explains the FEC in a press release on its financial indicators.
In fact, contractual loan commitments in 2020 reached 3.335 billion dirhams (MMDH), up slightly compared to 2019 and concern in particular the upgrading of cities and urban development within the framework of territorial development programs, which represent nearly 41% of the overall volume of loan commitments.
It is also about opening up the road through the construction of road infrastructure, which represents more than 41% of loan commitments and of which nearly 54% correspond to projects that fall within the framework of the Disparities Reduction Program. territorial and social in rural areas.
With regard to loan disbursements, they stood at 3.51 billion dirhams for fiscal year 2020, less intense than that observed in 2019, “as anticipated by the Bank and announced in previous quarterly press releases” , let know the press release, explaining this evolution in particular by the temporal sliding, in the realization of certain projects financed by the Institution.
However, this level of activity enabled the Bank to record a 9% increase in customer receivables to reach more than MAD 25 billion as of December 31, 2020, indicates the same source.
“As a Public Citizen Bank, the FEC responded to the call of national duty and proceeded, in 2020, to the payment of a contribution in the amount of 100 MDH for the benefit of the Special Fund for the management of the pandemic of Coronavirus ”, recalls the press release, stressing that the Bank’s net income for fiscal year 2020 will be impacted by the amount of this contribution.
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