The autonomous banking rating (BSR) of the Société Générale Marocaine de Banques (SGMB) is lowered from “bb+” to “bb” by Capital Intelligence Ratings (CI Ratings), which made the announcement on Wednesday, August 23, last year. The bank's core financial strength rating (CFS) was also lowered from “bb+” to “bb”.

The standalone banking rating (BSR) and core financial strength rating are lowered due to the company's high NPL (delinquency ratio) with an NPL ratio slightly higher than the benchmark group, the bank's modest coverage of loan losses against NPLs, and liquidity ratios Serr & eacute; s, in particular a very high rate of customer loan-to-deposit ratio, which further deteriorated in 2022. Although SGMB has a good medium and long-term financing base, which allows for a certain diversification of financing, the proportion of financing coming from deposits from main customers is considered low