Attijariwafa bank: higher results in the first quarter of 2023
Attijariwafa bank, the leading bank in North Africa in terms of total balance sheet, has unveiled its financial results for the first three months of 2023. With in particular an increase in indicators following the performance recorded in 2022.
Indeed, the consolidated net income and the net income group share (RNPG) amount respectively to 2.2 billion dirhams (approximately 215 million USD) and 1.8 billion dirhams (approximately 176 million USD), an increase of 15.3% and 14.8%.
For its part, net banking income amounted to 6.9 billion dirhams (around 676 million USD), up 3.9% (+6.9% at constant exchange rates) compared to the first quarter of 2022. This increase recorded despite the negative impact of the rise in monetary and bond rates in Morocco is mainly attributed to the good momentum observed in deposits and loans. Consolidated, these two indicators increased respectively by 7.6% and 4.4% year-on-year at March 31, 2022.
With regard to consolidated equity, it stood at 63.5 billion dirhams at the end of March 2022 with a return on assets (RoaA) of 1.43% against 1.30% for the same period last year.
This increase in indicators follows a year 2022 marked by a historic performance. Consolidated net income had reached 7.5 billion dirhams, up 21.1% over one year. For its part, net income group share (RNPG) rose to 6.1 billion, up 17.9%: the best annual result ever recorded by the Moroccan banking giant.