{"id":460505,"date":"2018-06-12T15:05:29","date_gmt":"2018-06-12T15:05:29","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=460505"},"modified":"2018-06-12T15:05:29","modified_gmt":"2018-06-12T15:05:29","slug":"societe-generale-maroc-announces-its-2018-and-2019-investment-plan","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/06\/12\/societe-generale-maroc-announces-its-2018-and-2019-investment-plan\/","title":{"rendered":"Societe Generale Maroc announces its 2018 and 2019 investment plan"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Societe Generale Maroc (SGMA), will launch an investment program of 784 million dirhams (83 million dollars) over the period 2018-2019 in order to continue the implementation of its strategic orientations.<\/p>\n<p>For the group, it will invest $ 44.9 million in 2018 and $ 38 million in 2019. An operation that will enable the bank to generate a GDP of 4.1 billion dirhams ($ 434 million) ) in 2018 and 4.4 billion dirhams ($ 465 million) in 2019.<\/p>\n<p>advertisement<br \/>\nThe transaction is part of its investment program, mainly related to the development of the branch network, supporting business projects, strengthening IT security and supporting regulatory changes.<\/p>\n<p>The bank plans a slight increase in its Net Banking Income (GNP) in 2018 to $ 437 million and $ 465 million in 2019, against $ 423 million in 2017. The Gross Operating Profit (EBITDA) should reach 151 million in 2018 and $ 162 million in 2019, driven by the optimization of recovery tools and actions and the improvement of risk in certain customer segments.<\/p>\n<p>According to its 2017 results, SGMA ranks fourth among Moroccan banks in terms of loans and fifth in terms of resources, with a market share of 8.5% and 6.8% respectively.<\/p>\n<p>Launch of a loan of 800 million dirhams<\/p>\n<p>SGMA, also obtained Monday, June 11, the visa of the Moroccan Authority of Capital Market (AMMC), to proceed to the issue of a subordinated bond of 800 million dirhams, or $ 84.72 million , June 19 to 21 included.<\/p>\n<p>The transaction will enable SGMA to strengthen its equity following the acquisition of 34.95% of Eqdom&#8217;s share capital from SG Financial Services Holding. But also the issue will participate in financing development of the bank&#8217;s business and monitor the growth of credit growth.<\/p>\n<p>In addition, for the bank, it will be through the operation to diversify its sources of financing in the long term and improve financing costs, but also to prepare for long-term financing opportunities and to consolidate image of the bank vis-\u00e0-vis the main partners.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Societe Generale Maroc (SGMA), will launch an investment program of 784 million dirhams (83 million dollars) over the period 2018-2019 in order to continue the implementation of its strategic orientations. For the group, it will invest $ 44.9 million in 2018 and $ 38 million in 2019. An operation that will enable the bank to<\/p>\n","protected":false},"author":527297,"featured_media":460508,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12000],"tags":[2552,13381],"class_list":["post-460505","post","type-post","status-publish","format-aside","has-post-thumbnail","category-banks-insurance","tag-maroc","tag-societe-generale-maroc","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Societe Generale Maroc announces its 2018 and 2019 investment plan - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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