Morocco’s Bank of Africa records a 5% net income increase

Morocco’s Bank of Africa (BOA) announced, Monday, a 5% increase in its 2019 net income of 1.9 billion dirhams, Reuters reports.

The banking group, previously known as BMCE Bank of Africa, said that this rise comes with an 11% return on equity (ROE) for this year and an 0.8% return on asset (ROA) ratio.

According to the British news agency, which quotes a communiqué issued by the bank, BOA has recorded a 5% increase in its net banking income up to 13.9 billion dirhams. BOA also announced that it is giving 1 billion dirham for its annual dividends, at a level of 5 dirhams per share.