Banque Centrale Populaire Cash Flow Statement

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2019 - 2015
Period Ending	Sep '25 Sep 30, 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	2019 - 2015
Net Income	-	4,145	3,475	2,749	1,765	1,229	Upgrade
Depreciation & Amortization	-	1,405	1,379	1,335	1,337	1,460	Upgrade
Gain (Loss) on Sale of Assets	-	-1,854	-2,471	-1,173	-757.14	-870.68	Upgrade
Gain (Loss) on Sale of Investments	-	4,107	1,292	1,392	1,368	4,365	Upgrade
Total Asset Writedown	-	-106.94	149.9	-2.76	661.53	-32.36	Upgrade
Change in Income Taxes	-	-1,801	-1,337	-3,715	-1,115	-1,413	Upgrade
Change in Other Net Operating Assets	-	-2,295	-12,746	-1,211	-6,162	153.22	Upgrade
Other Operating Activities	-	4,343	2,302	3,026	3,826	1,691	Upgrade
Operating Cash Flow	-	7,952	-7,955	2,401	923.27	6,586	Upgrade
Operating Cash Flow Growth	-	-	-	160.06%	-85.98%	-	Upgrade
Capital Expenditures	-	-1,583	-1,788	-1,456	-1,126	-1,215	Upgrade
Investment in Securities	-	476.19	3,081	-8,818	1,066	2,754	Upgrade
Income (Loss) Equity Investments	-	9.28	1.54	0.47	1.12	2.55	Upgrade
Investing Cash Flow	-	-544.64	1,894	-10,418	30.02	1,266	Upgrade
Issuance of Common Stock	-	-	-	-	278.21	-	Upgrade
Other Financing Activities	-	-1,132	-319.76	2,423	1,609	-1,733	Upgrade
Financing Cash Flow	-	-1,132	-319.76	2,423	1,887	-1,733	Upgrade
Foreign Exchange Rate Adjustments	-	-234.01	-392.62	774.67	-251.97	-150.66	Upgrade
Net Cash Flow	-	6,041	-6,773	-4,819	2,588	5,968	Upgrade
Free Cash Flow	-	6,369	-9,743	945.07	-202.47	5,371	Upgrade
Free Cash Flow Margin	-	32.82%	-55.88%	5.79%	-1.39%	40.82%	Upgrade
Free Cash Flow Per Share	-	31.33	-47.91	4.65	-1.00	26.57	Upgrade
Cash Income Tax Paid	-	1,801	1,337	3,715	1,115	1,413	Upgrade

Source: S&P Capital IQ. Banks template. Financial Sources.