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Attijariwafa bank
Annual report
2021
2022
CONSOLIDATED RESULTS OF
ATTIJARIWAFA BANK GROUP
Consolidated net banking income
At December 31 , 2022 , consolidated net banking income totaled
MAD 26 . 3 billion , compared with MAD 24 . 4 a year earlier . This
7 . 9 % increase is attributable to the :
• 7 . 3 % rise in interest margin , to MAD 17 . 4 billion ;
• 11 . 2 % increase in fee income , to MAD 5 . 8 billion .
NBI at December 31 , 2022
66 %
22 %
12 %
0 . 4 %
Net interest margin
Net fee income
Income from market
activities
Net income from
other activities
At the end of 2022 , consolidated NBI by activity broke down
as follows :
• Morocco , Europe and offshore banking : – 2 . 3 % , to MAD
12 . 3 billion ;
• specialized finance subsidiaries : + 2 . 2 % , to MAD 2 . 7 billion ;
• international retail banking : + 18 . 4 % , to MAD 9 . 8 billion ;
• insurance activities : + 53 . 4 % , to MAD 1 . 9 billion .
Gross operating income
Gross operating income rose 11 . 5 % in 2022 , to MAD 14 . 6 billion .
General operating expenses ( incl . depreciation , amortization
and impairment ) declined by 3 . 8 % , to MAD 11 . 7 billion . The cost -
to - income ratio came to 44 . 5 % , compared with 46 . 3 % in 2021 .
Cost of risk
The cost of risk totaled MAD 3 . 2 billion . As a share of total
outstandings , the cost of risk came to 0 . 79 % , compared with
0 . 97 % in 2021 . The nonperforming - loan ratio declined – 0 . 69
points in 2022 , to 7 . 43 % .
Consolidated net income
Group consolidated net income rose 21 . 1 % in 2022 , to MAD
7 . 5 billion .
Net income ( Group share )
Net income ( Group share ) increased by 17 . 9 % , to MAD 6 . 1 billion .
Return on Tangible Equity ( RoTE
*
) came to 16 . 6 % in 2022 .
Return on Average Assets ( RoAA
* *
) came to 1 . 22 % .
Contributors to net income ( Group share )
at December 31 , 2022
Banking in Morocco , Europe and offshore
zone
- 0 . 6 %
Specialized finance subsidiaries + 1 . 6 %
Insurance entities + 93 . 1 %
International retail banking + 52 . 3 %
( * ) ROTE = Net income ( Group share ) / Average tangible shareholders ’ equity ( Group share )
( * * ) RoAA = Net income / Average total assets