Banque Centrale Populaire Cash Flow Statement

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	2020 - 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	2020 - 2016
Net Income	4,503	4,145	3,475	2,749	1,765	Upgrade
Depreciation & Amortization	1,304	1,405	1,379	1,335	1,337	Upgrade
Gain (Loss) on Sale of Assets	-2,186	-1,854	-2,471	-1,173	-757.14	Upgrade
Gain (Loss) on Sale of Investments	-334.49	4,107	1,292	1,392	1,368	Upgrade
Total Asset Writedown	163.08	-106.94	149.9	-2.76	661.53	Upgrade
Change in Income Taxes	-5,318	-1,801	-1,337	-3,715	-1,115	Upgrade
Change in Other Net Operating Assets	6,385	-2,295	-12,746	-1,211	-6,162	Upgrade
Other Operating Activities	5,780	4,343	2,302	3,026	3,826	Upgrade
Operating Cash Flow	10,337	7,952	-7,955	2,401	923.27	Upgrade
Operating Cash Flow Growth	30.00%	-	-	160.06%	-85.98%	Upgrade
Capital Expenditures	-1,620	-1,583	-1,788	-1,456	-1,126	Upgrade
Investment in Securities	-31.14	476.19	3,081	-8,818	1,066	Upgrade
Income (Loss) Equity Investments	39.79	9.28	1.54	0.47	1.12	Upgrade
Investing Cash Flow	-588.26	-544.64	1,894	-10,418	30.02	Upgrade
Issuance of Common Stock	-	-	-	-	278.21	Upgrade
Other Financing Activities	-1,639	-1,132	-319.76	2,423	1,609	Upgrade
Financing Cash Flow	-1,639	-1,132	-319.76	2,423	1,887	Upgrade
Foreign Exchange Rate Adjustments	-47.42	-234.01	-392.62	774.67	-251.97	Upgrade
Net Cash Flow	8,063	6,041	-6,773	-4,819	2,588	Upgrade
Free Cash Flow	8,718	6,369	-9,743	945.07	-202.47	Upgrade
Free Cash Flow Growth	36.87%	-	-	-	-	Upgrade
Free Cash Flow Margin	40.32%	32.82%	-55.88%	5.79%	-1.39%	Upgrade
Free Cash Flow Per Share	42.88	31.33	-47.91	4.65	-1.00	Upgrade
Cash Income Tax Paid	5,318	1,801	1,337	3,715	1,115	Upgrade

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