Live CIH Bank share price on the Bourse de Casablanca. Originally Crédit Immobilier et Hôtelier (1959), CIH has transformed since the early 2010s into a universal bank with a meaningful real-estate-finance tilt. Caisse de Dépôt et de Gestion (CDG) is the reference shareholder.
Cours de l'action CIH Bank en direct. Anciennement Crédit Immobilier et Hôtelier, CIH est aujourd'hui une banque universelle avec une activité immobilière marquée. La Caisse de Dépôt et de Gestion en est l'actionnaire de référence.
CIH Bank, fondée en 1959 sous le nom de Crédit Immobilier et Hôtelier, était historiquement la banque spécialisée dans le financement de l'immobilier et de l'hôtellerie au Maroc. Depuis le début des années 2010, CIH a poursuivi une transformation en banque universelle, élargissant son offre de détail, de banque digitale et de crédit aux PME, tout en conservant un poids significatif dans le financement immobilier. La Caisse de Dépôt et de Gestion (CDG), bras financier public marocain, en est l'actionnaire de référence depuis longtemps.
CIH Bank, founded in 1959 as Crédit Immobilier et Hôtelier, was historically the Moroccan bank specialised in real-estate and hotel financing. Since the early 2010s, CIH has pursued a transformation into a universal bank, expanding its retail, digital banking, and SME credit offerings while retaining a meaningful weight in real-estate finance. The Caisse de Dépôt et de Gestion (CDG), Morocco's public-sector financial arm, has long been the reference shareholder.
CIH conserve un livre de crédit immobilier proportionnellement plus important que ses pairs ATW, BCP ou BOA. Le cycle de l'immobilier résidentiel marocain — demande des ménages, prix de l'immobilier urbain, programmes publics de logement — influe donc plus directement sur la croissance du livre de prêts de CIH que sur celui des autres banques du MASI. Une reprise du marché résidentiel a tendance à bénéficier à CIH avant les autres.
CIH retains a residential-mortgage book proportionally larger than that of peer banks ATW, BCP, or BOA. The Moroccan residential property cycle — household demand, urban price levels, public housing programmes — therefore influences CIH's loan-book growth more directly than that of the other MASI banks. A residential market recovery tends to benefit CIH before the others.
Comme pour toutes les banques marocaines, le taux directeur de BAM influence directement la marge d'intérêt nette. Pour CIH, l'effet est légèrement différent du fait du poids du crédit immobilier à long terme: les prêts hypothécaires se réajustent plus lentement que les prêts à la consommation, ce qui peut faire que CIH sente les changements de taux avec un décalage par rapport à une banque de détail plus diversifiée.
As with all Moroccan banks, the BAM key rate directly influences net interest margin. For CIH, the effect is slightly different given the weight of long-duration mortgage lending: home loans reprice more slowly than consumer credit, which can mean CIH feels rate changes with a lag relative to a more diversified retail bank.
CIH a historiquement participé aux programmes publics de logement (logement social, «Villes sans bidonvilles» et leurs successeurs). Les budgets publics consacrés à ces programmes, et leur calendrier d'exécution, fournissent un flux de financement adossé sur lequel CIH opère. Une intensification ou un ralentissement de ces programmes a un effet plus direct sur le carnet de commandes de CIH que sur celui d'une banque généraliste.
CIH has historically participated in Moroccan public housing programmes (social housing, «Villes sans bidonvilles» and successor schemes). The public budgets committed to those programmes, and their execution calendars, provide a backed financing flow that CIH operates within. An acceleration or slowdown of these programmes has a more direct effect on CIH's pipeline than on that of a generalist bank.
Within Morocco's listed banking sector, CIH ranks among the mid-tier institutions by total balance-sheet size, well behind ATW, BCP, and BOA but ahead of CFG Bank and the smaller listed players. It is supervised by Bank Al-Maghrib under the same Basel III framework as all Moroccan deposit-taking institutions and discloses its solvency, liquidity, and asset-quality ratios in its half-year and annual reports filed with the AMMC.
The reference shareholder, CDG, brings public-sector backing that shapes both the bank's funding profile and its strategic positioning. CDG is itself a long-horizon institutional investor managing public deposits and pension reserves; its relationship with CIH provides stability that retail investors sometimes weigh as a defensive feature, particularly during stress periods in the broader banking sector.
CIH is the closest thing on the Casablanca Stock Exchange to a real-estate-finance pure-play, and that profile attracts investors who want the bank-credit story without the heavy African overlay of ATW or BOA. The thesis runs that Moroccan urbanisation, demographic structure, and public housing commitments support residential-mortgage volumes for the foreseeable future. The counter-thesis is that any prolonged downturn in the Moroccan residential market would weigh more heavily on CIH than on more diversified banks, and that the universal-bank transformation has not yet fully eliminated that single-sector exposure.
Serious investors watching CIH typically read the residential-mortgage growth rate disclosed in the management commentary, the cost of risk on the home-loan book specifically (often broken out from the rest of the loan book), and the bank's deposit-funding mix. Capital ratios under Basel III — the same regime supervised by BAM for all Moroccan banks — are reported in the half-year filing.
Each half-year report from CIH discloses consolidated PNB, net income group share, and the standard banking ratios. The mortgage-portfolio breakdown, when included, is the line worth reading first because it reveals how the residential cycle is feeding through into the bank's commercial activity. Cost of risk is reported in basis points of the average loan book; for CIH, the long-duration nature of the mortgage book means cost-of-risk surprises tend to be smaller in any given period but more persistent when they appear.
Only the consolidated group-share lines flow through Dalil's automated extraction. The product-line breakdown of the loan book, the residential-mortgage subset of cost of risk, and any non-recurring items affecting a given period are documented in the original CIH filing on the AMMC website, which remains the canonical version.
The price card shows CIH's last traded price, delayed 15–30 minutes via the Drahmi feed. The amber INDICATIVE chip appears when the upstream is unavailable, in which case the displayed value is a recent reference rather than today's intraday price. The stat bar provides comparison points: MASI for the broader market, ATW and BOA for the two larger Moroccan banks, and the BAM key rate, which is the single most important macro variable for any bank's net interest margin.
For a bank, the headline number is PNB (Produit Net Bancaire), and the secondary numbers worth tracking are cost of risk and ROE. The article on what ROE means for Moroccan stocks explains why ROE is the right ratio for a bank in particular. The article on how to compare two Moroccan stocks walks through how to set CIH alongside ATW, BCP, or BOA without making the standard cross-sector mistakes.
AMMC - ammc.ma (CIH filings, listing approvals, regulatory disclosures)
Bourse des Valeurs de Casablanca - casablanca-bourse.com (market data, MASI methodology)
Bank Al-Maghrib - bkam.ma (banking sector solvency, monetary policy)
CDG - cdg.ma (reference-shareholder context)
CIH Bank investor relations - half-year and annual financial reports
Live CIH price on Dalil refreshes every 15–30 minutes through the Drahmi feed.