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BCI

Banque Marocaine pour le Commerce et l'IndustrieCBSE:BCI Stock Report

Market Cap

د.م8.9b

7D

-1.3%

1Y

16.2%

Updated

19 Oct, 2021

Data

Company Financials +
BCI fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance4/6
Financial Health4/6
Dividends2/6

BCI Overview

Banque Marocaine pour le Commerce et l'Industrie, together with its subsidiaries, provides retail and corporate banking services to individuals, professionals, and companies.

Price History & Performance

Summary of all time highs, changes and price drops for Banque Marocaine pour le Commerce et l'Industrie
Historical stock prices
Current Share Priceد.م670.00
52 Week Highد.م576.50
52 Week Lowد.م735.00
Beta0.57
1 Month Change-3.04%
3 Month Change9.09%
1 Year Change16.22%
3 Year Change-10.67%
5 Year Change15.50%
Change since IPO332.44%

Recent News & Updates

Shareholder Returns

BCIMA BanksMA Market
7D-1.3%0.9%1.0%
1Y16.2%27.0%26.4%

Return vs Industry: BCI underperformed the MA Banks industry which returned 27.5% over the past year.

Return vs Market: BCI underperformed the MA Market which returned 26.6% over the past year.

Price Volatility

Is BCI's price volatile compared to industry and market?
BCI volatility
BCI Beta0.57
Industry Beta0.41
Market Beta1

Stable Share Price: BCI is not significantly more volatile than the rest of MA stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BCI's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19643,000Rachid Marrakchihttps://www.bmci.ma

Banque Marocaine pour le Commerce et l'Industrie, together with its subsidiaries, provides retail and corporate banking services to individuals, professionals, and companies. The company offers various accounts, savings and investment products, insurance brokerage, and credit products. It also provides remote banking, funding, and receipt services; private banking services, including patrimonial project, financial advisory, financing, and customized and everyday banking services; and international trade, growth finance, flow management, business cycle management, currency hedging, employee loyalty, and business assistance services.

Banque Marocaine pour le Commerce et l'Industrie Fundamentals Summary

How do Banque Marocaine pour le Commerce et l'Industrie's earnings and revenue compare to its market cap?
BCI fundamental statistics
Market Capد.م8.90b
Earnings (TTM)د.م347.95m
Revenue (TTM)د.م2.38b

25.6x

P/E Ratio

1.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BCI income statement (TTM)
Revenueد.م2.38b
Cost of Revenueد.م0
Gross Profitد.م2.38b
Expensesد.م2.03b
Earningsد.م347.95m

Dividends

6.4%

Current Dividend Yield

170%

Payout Ratio

Valuation

Is Banque Marocaine pour le Commerce et l'Industrie undervalued compared to its fair value and its price relative to the market?

25.57x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BCI's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BCI's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BCI is poor value based on its PE Ratio (25.6x) compared to the MA Banks industry average (24.3x).

PE vs Market: BCI is good value based on its PE Ratio (25.6x) compared to the MA market (26.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BCI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BCI is good value based on its PB Ratio (1.2x) compared to the MA Banks industry average (1.7x).


Future Growth

How is Banque Marocaine pour le Commerce et l'Industrie forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

21.0%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BCI's forecast earnings growth is above the savings rate (9.1%).

Earnings vs Market: Insufficient data to determine if BCI's earnings are forecast to grow faster than the MA market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BCI's revenue (21% per year) is forecast to grow faster than the MA market (6.7% per year).

High Growth Revenue: BCI's revenue (21% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BCI's Return on Equity is forecast to be low in 3 years time (7.8%).


Past Performance

How has Banque Marocaine pour le Commerce et l'Industrie performed over the past 5 years?

-10.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BCI has high quality earnings.

Growing Profit Margin: BCI's current net profit margins (14.6%) are higher than last year (13.6%).


Past Earnings Growth Analysis

Earnings Trend: BCI's earnings have declined by 10.5% per year over the past 5 years.

Accelerating Growth: BCI's earnings growth over the past year (10.7%) exceeds its 5-year average (-10.5% per year).

Earnings vs Industry: BCI earnings growth over the past year (10.7%) exceeded the Banks industry 8.4%.


Return on Equity

High ROE: BCI's Return on Equity (4.6%) is considered low.


Financial Health

How is Banque Marocaine pour le Commerce et l'Industrie's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BCI's Assets to Equity ratio (9.3x) is low.

Allowance for Bad Loans: BCI has a low allowance for bad loans (88%).

Low Risk Liabilities: 77% of BCI's liabilities are made up of primarily low risk sources of funding.

Loan Level: BCI has an appropriate level of Loans to Assets ratio (76%).

Low Risk Deposits: BCI's Loans to Deposits ratio (110%) is appropriate.

Level of Bad Loans: BCI has a high level of bad loans (14.3%).


Dividend

What is Banque Marocaine pour le Commerce et l'Industrie current dividend yield, its reliability and sustainability?

6.42%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BCI's dividend (6.42%) is higher than the bottom 25% of dividend payers in the MA market (2.22%).

High Dividend: BCI's dividend (6.42%) is in the top 25% of dividend payers in the MA market (4.86%)


Stability and Growth of Payments

Stable Dividend: BCI has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BCI's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (170.2%), BCI's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.4yrs

Average board tenure


CEO

Rachid Marrakchi

no data

Tenure

Mr. Rachid Marrakchi serves as General Manager and Member of Management Board at Banque Marocaine pour le Commerce et l'Industrie since March, 2019 and serves its Chief Executive Officer. He served as Chie...


Board Members

Experienced Board: BCI's board of directors are considered experienced (6.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Banque Marocaine pour le Commerce et l'Industrie's employee growth, exchange listings and data sources


Key Information

  • Name: Banque Marocaine pour le Commerce et l'Industrie
  • Ticker: BCI
  • Exchange: CBSE
  • Founded: 1964
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: د.م8.897b
  • Shares outstanding: 13.28m
  • Website: https://www.bmci.ma

Number of Employees


Location

  • Banque Marocaine pour le Commerce et l'Industrie
  • 26, Place des Nations
  • Casablanca
  • 20 000
  • Morocco

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 16:30
End of Day Share Price2021/10/18 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.