Net income up 35.8% at the end of June

The net profit attributable to the group (RNPG) Attijariwafa Bank amounted to 2.6 billion dirhams (MMDH) at the end of June 2021, up 35.8% compared to the same period of 2020, restating the charge of the contribution to the Covid-19 special fund.

Consolidated net income reached, on that date, 3.2 billion dirhams, up 38.1% (Restated Covid-19 contribution), indicates the banking group in a financial press release, published following the holding, on Tuesday, of its Board of Directors.

Operating profit increased by 30.1% to MAD 5 billion, thanks to “a confirmed discipline in terms of cost control and the gradual normalization of the cost of risk”, specifies AWB.

Regarding the consolidated net banking income, it amounted to MAD 12.5 billion, an improvement of 0.7% (+ 1.5% at constant scope and exchange rates), benefiting from a positive commercial dynamic in terms of collecting savings and financing the economy, in a context of a gradual recovery in economic activity in the various countries in which the Group is present.

Thus, the savings collected and consolidated loans stood at 532.9 billion dirhams (+ 8.7%) and 342 billion dirhams (+ 3.6%), respectively, adds the same source.

By business line, the increase in consolidated net banking income includes the growth in the Bank’s contribution in Morocco, Europe and Tangier offshore (+ 3.5%), and international retail banking (+3 , 1%) and specialized financing subsidiaries (+ 7.4%).

The contribution of the Insurance division recorded a drop of 30.2%, explained by the normalization of claims for the “automobile” and “accidents at work” branches (after a significant improvement in 2020 in connection with health measures. ).

In terms of support for the economy in the first half of 2021, AWB financed a total of 9,251 young people and project leaders for an amount of MAD 1.9 billion, as part of the “Intelaka” initiative, which corresponds to 39 % of total loans granted by the banking sector.

It also concerns the production of 4.7 billion dirhams of mortgage buyers in H1-2021 (+ 79% and + 21% compared to H1-2020 and H1-2019 respectively), as well as the granting of 18,538 loans. “Damane Oxygène”, in favor of traders / artisans and very small businesses, for an envelope of 5.7 billion dirhams, ie a market share of 33%

The Group also reports the distribution of MAD 13.4 billion in “Recovery” loans for the benefit of 17,764 companies, i.e. a market share in volume of 30%, the registration of 95,000 auto-entrepreneurs and the financing of 5,937 SMEs for an amount of MAD 3.4 billion as part of the “Damane Express”, “Damane Attasyir” and “Damane Istitmar” initiatives.



Please enter your comment!
Please enter your name here