Attijariwafa Bank: Strong Financial Performance and Growth in Net Banking Income

2023-11-17 16:24:50

Consolidated net banking income amounts to 22.3 billion dirhams, an improvement
by 14.9% (+18.4% at constant exchange rates) compared to the same period last year.

This progression was driven by favorable commercial dynamics in terms of savings collection and financing of the economy. Thus, customer loans and deposits stood respectively at 374.9 billion dirhams (+5.0% or 17.72 billion dirhams) and 424.1 billion dirhams (+6.1% or 24 .52
billion dirhams).

The operating ratio improved by 2 points (-4 points excluding the earthquake) to stand at 40.1% (38.4% excluding the earthquake) compared to 42.2% at the same period of the year the latter thanks to increased cost control.

The cost of risk increased from 2.5 to 2.9 billion dirhams over the period.

Consolidated net income and group share of net income stood at 6.9 billion dirhams and 5.8 billion dirhams respectively, up 19.4% and 27.4%.
(+23.6% and +32.0% excluding earthquake). The contribution of International Retail Banking to the group’s net income increased by 31.8% (International Retail Banking represented 37.8% of the group’s net income for the first nine months). of the year 2023).

For its part, the bank’s net banking income in Morocco amounts to 12.0 billion dirhams for the first nine months of the year compared to 10.6 billion dirhams in
for the same period last year, an increase of 13.2%.

Customer loans and deposits respectively recorded an increase of 6.3%2 to 234.9 billion dirhams and 7.9% to 286.1 billion dirhams, reinforcing the positioning of Attijariwafa bank as the leading financier of the economy and the leading collector of savings.

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#Profits #significantly #September

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