RABAT- Bank of Africa (BOA), one of Morocco's biggest lenders, reported on Monday a 68% drop in first-half profit attributable to shareholders to 373 million dirhams ($40 million).
The Bank cited its 1 billion dirham donation to a government-run coronavirus fund and the surge of the cost of risk by 68% to 1.5 billion dirhams.
Consolidated net banking income rose 1% to 7 billion dirhams.
Morocco's central bank has asked its lenders to withhold dividends this year so they are better placed to deal with any fallout from the pandemic.
(Reporting by Ahmed Eljechtimi, editing by Louise Heavens) ((ahmed.eljechtimi@thomsonreuters.com;))
