The Moroccan Economy in Brief: Wednesday, September 16, 2020

Half-yearly results: CIH Bank posts indicators in the green:

During a press conference held on September 15, 2020, the Bank therefore announced its main indicators and key facts at the end of June 2020. The result was a consolidated GNP of 1.40 MMDH, up 17.4% compared to June 2019. The growth in commercial activity, combined with continued optimization of the cost of resources, led to a 13.8% increase in the net interest margin. According to the bank, market activity also contributed to this growth with an increase of 57.6%. CIH Bank's net banking income for social security amounted to 1.13 MMDH, up 14.7% compared with June 2019.

Agricultural innovation / Grand Prix Hassan II: Applications are open:

This year, the Hassan II Grand Prix for invention and research in agriculture is back for a 12th edition. A call for applications has been launched by the Ministry of Agriculture and Maritime Fisheries, and will end on December 31, 2020. In detail, the Hassan II Grand Prix for Invention and Research in Agriculture, established since 2003, aims to encourage invention and innovation in the agricultural field. It is governed by Decree N° 2-99-100 of Chaabane 24, 1420 (December 3, 1999), as amended and supplemented by Decree N°2-04-959 of Chaoual 3, 1427 (October 26, 2006).

In August 2020 only: Port activity grows by 9.8%:

The port traffic shows a performance of 9.8% in August 2020 recording a volume of 7.8 million tons. Over the first eight months of the year, the activity of the ports climbs by 6.8% reaching a global volume of 62.6 million tons, according to the latest statistics of the National Ports Agency (ANP). It emerges that the ports of Mohammedia, Casablanca and Jorf Lasfar ensured the transit of 49 million tonnes, which constitutes about 78.3% of the traffic of the ports managed by the ANP at the end of August 2020.