BUSINESS ACTIVITY IN MOROCCO

CUSTOMER DEPOSITS

Attijariwafa bank’s customer deposits rose 4.9% in 2022, to

MAD 274.0 billion. This change is the result of:

•an 8.1% rise in non-interest-bearing deposits, to MAD 216.8

billion, in line with:

- a 10.6% increase in checking accounts, to MAD 148.3 billion;

- a 0.1% decrease in current accounts with short-term lines

of credit, to MAD 54.4 billion;

• a 5.6% decline in interest-bearing accounts, to MAD 56.7

billion.

Attijariwafa bank’s market share of customer deposits stood

at 24.3% at the end of 2022.

Loan disbursals

In 2022, Attijariwafa bank’s loan disbursals rose 7.7%, to MAD

272.2 billion. This change is attributable mainly to:

• a 3.9% increase in mortgage loans, to MAD 69.7 billion;

• a 21.1% increase in consumer loans, to MAD 60.0 billion;

• an 8.3% increase in equipment loans, to MAD 63.9 billion.

Attijariwafa bank’s market share in lending stood at 26.1% at

the end of 2022.

Attijariwafa bank’s nonperforming loans rose 0.1%, to MAD

16.5 billion. At the same time, provisions for nonperforming

loans rose 7.2%, to MAD 11.7 billion, bringing the coverage ratio

to 71.3%. The nonperforming-loan ratio stood at 6.0% at the

end of the year.

Signature loans

Signature loans grew by 171 in 2022 to MAD 1794 billion bringing

the Banks market share in this segment to 465

Source GPBM

PARENTCOMPANY RESULTS

AT DECEMBER 31 2022

Net banking income

At December 31 2022 net banking income NBI totaled MAD

13.5 billion, up 3.1% from 2021. This change is the result of higher

interest margins (+2.6%), higher fee income (+7.0%), lower earnings

from market activities (–14.1%) and lower earnings from lease

financing (-145.1%).

Net banking income breaks down as follows :

2022

Share

of NBI

2021

Share

of NBI

Change

MAD%

Net interest margin 8,726 64.8%8,506 65.1%220 2.6%

Income from lease

financing and similar

agreements

69 0.5%-152-1.2%221-145.1%

Fee income 2,151 16.0%2,011 15.4%141 7.0%

Income from market

activities

2,031 15.1%2,365 18.1%-334-14.1%

(+)Other banking

income

2,037 15.1%1,734 13.3%303 17.5%

(-)Other banking

expenses

1,539 11.4%1,394 10.7%+146 10.4%

Net banking income 13,475 100.0%13,069 100.0%406 3.1%

Net interest margin

Net interest margin totaled MAD 8.7 billion in 2022, up 2.6%,

and breaks down as follows:

• Interest and related income rose 1.8%, to MAD 11.2 billion.

This change is attributable to higher interest and related

income from customer activities (+0.9%), higher interest

and related income from activities with credit institutions

(+9.8%), and higher income from securities transactions

(+7.5%).

•

Interest and related expenses fell 1.0%, to MAD 2.5 billion,

because of a 4.7% decline in interest and related expenses

from customer activities, and a 15.0% decline in interest and

related expenses from activities with credit institutions.

Income from lease financing and similar agreements

Income from lease financing and similar agreements totaled

MAD 69 million in 2022 compared with a deficit of MAD 1523

million in 2021

Fee income

Fee income in 2022 totaled MAD 22 billion up 70 from 2021

Income from market activities

In 2022 income from market activities totaled MAD 20 billion

down 141 from 2021 This decline is due mainly to the global

rise in bond yields since the beginning of 2022