Revenue by Segment

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2018	FY 2016
Period Ending	Dec '25 Dec 31, 2025	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	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Jan '18 Jan 1, 2018	Dec '16 Dec 31, 2016
International Operations	9.63B	9.38B	9.29B	8.23B	7.24B
International Operations Growth	2.71%	0.94%	12.86%	13.71%	3.80%
Other Operations	247.94M	222.72M	252.12M	163.38M	144.47M
Other Operations Growth	11.32%	-11.66%	54.32%	13.09%	15.09%
Specialized Financial Services	811.04M	699.47M	607.26M	700.56M	640.69M
Specialized Financial Services Growth	15.95%	15.18%	-13.32%	9.34%	-8.54%
Asset Management and Investment Banking	672.48M	457.48M	388.76M	345.91M	362.15M
Asset Management and Investment Banking Growth	47.00%	17.68%	12.39%	-4.48%	8.75%
Banking in Morocco	8.98B	7.96B	6.41B	6.18B	6.22B
Banking in Morocco Growth	12.77%	24.09%	3.75%	-0.61%	5.99%
Total	20.34B	18.72B	16.95B	15.62B	14.61B
Total Growth	8.67%	10.40%	8.50%	6.96%	4.32%

Source: S&P Global Market Intelligence.