Remarkable progress over the last few years

IFRS financial indicators

- Turnover figure

The Upline Group joined the Banque Populaire Group in 2009, Since then, the turnover figure has progressed appreciably, from 75 million dirhams in 2009 to almost 167 million dirhams at the end of 2013, a rise of 123% and average annual growth of the order of 27%.

That remarkable performance by the group comes from the combined effect of the efforts deployed by the teams of the Group’s various business subsidiaries and the beneficial spin-offs of synergy with the Banque Populaire Group.

- Net income (Group share)

Between 2009 and 2013, the net income (Group share) rose from 17 to 59 million dirhams. That remarkable progress has its origins in the rise in turnover and in controlling operating costs. The rise is appreciable at 247%, i.e. an average annual growth rate of 54.

Activity indicators

- Corporate finance

In 2013, Upline Corporate Finance recorded a 10% rise in its turnover as compared with 2012, doing so in spite of a difficult economic context. The Upline Group subsidiary, which specialises in financial consultancy and engineering, successfully implemented a number of successful client development projects at national and international level, mainly in Africa.

- Asset management

The outstanding amounts generated by Upline Capital Management have progressed in a sustained manner since 2009, with a rate of increase of 169% at the end of 2013 and with 25.9 billion dirhams in managed assets at the end of 2013, in spite of an unfavourable situation and increased competition in the collective-management industry.

Those achieve attest to the Banque Populaire Group’s continued desire, through its Upline Capital Management subsidiary, to offer investment solutions that are competitive, high-performing, and innovative to all its clientele (institutional clients, large businesses, private individuals, professionals, Moroccans around the World, and private banking) in an financial-market environment that is increasingly complex and turbulent.

- Securities brokerage

In an unfavourable stock-market context, the Upline Group’s stock-market intermediation activity recorded an average annual growth rate of 55% in respect of its market share for the period 2009-2013. that change is essentially due to an excellent commercial dynamic, as well as the development of intra-group synergies.

- Private equity

At the end of 2013, assets under management exceeded 6 billion dirhams across a range of sectors: industry, services, professional property, tourism, and infrastructure, thus strengthening Upline Alternative Investment’s position as leader of the private equity market in Morocco.

- Insurance brokerage

Upline Group’s insurance-consultancy arm, Upline Courtage, recorded a 48% rise in turnover from 2009 to 2013.
Premiums collected stood at 491 million dirhams in 2013, as against 325 million dirhams in 2009, giving a significant rise of 51%.