Since our recommendation on January 9th, 2025 (Rapport Secteur Bancaire-Janvier 2025), the CIH Bank stock reached its price target within the same month, specifically on January 27th, 2025.
CIH Bank has experienced remarkable growth over the past decade, with an average annual growth rate (AAGR) of loans at +12.2%, surpassing the symbolic milestone of MAD 100 billion in 2024. In the medium term, the bank is expected to benefit from Morocco’s renewed investment momentum. Based on our 2024–2027E growth scenario, we recommend "HOLDING" the stock.
