Bank of Africa Cash Flow Statement

Financials in millions MAD. Fiscal year is January - December.

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	3,427	2,662	2,305	2,007	737.83
Depreciation & Amortization	726.09	706.46	712.69	1,058	954.34
Gain (Loss) on Sale of Assets	378.61	-132.7	-811.19	152.3	-592.45
Gain (Loss) on Sale of Investments	77.64	-132.04	15.53	154.47	190.3
Change in Income Taxes	-1,855	-1,600	-1,388	-829.79	-1,112
Change in Other Net Operating Assets	-735.36	-6,708	-783.15	2,757	-3,142
Other Operating Activities	5,130	5,210	4,512	3,198	3,410
Operating Cash Flow	7,009	-137.2	4,420	8,412	386.83
Operating Cash Flow Growth	-	-	-47.46%	2074.72%	-
Capital Expenditures	-1,002	-1,023	-584.45	-996.82	-32.51
Investment in Securities	-58.7	-855.08	-2,005	-2,339	-268.89
Income (Loss) Equity Investments	-140.6	-142.67	-142.33	-84.71	-59.7
Other Investing Activities	-	28.26	0	-0	-
Investing Cash Flow	-1,063	-1,821	-2,464	-3,304	-124.51
Other Financing Activities	-555.39	15.05	-3,400	-255.58	-2,932
Financing Cash Flow	-555.39	15.05	-3,400	-255.58	-2,932
Foreign Exchange Rate Adjustments	-384.63	-1,004	729.44	-440.67	63.47
Net Cash Flow	5,006	-2,948	-713.81	4,412	-2,606
Free Cash Flow	6,007	-1,160	3,835	7,416	354.32
Free Cash Flow Growth	-	-	-48.28%	1992.92%	-
Free Cash Flow Margin	38.61%	-8.16%	29.48%	63.36%	3.34%
Free Cash Flow Per Share	27.27	-5.27	17.41	33.66	1.61
Cash Income Tax Paid	1,855	1,600	1,388	829.79	1,112

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.