Other banking income and expenses

Other banking income totaled MAD 2.0 billion in 2022, a rise

of 17.5% from 2021.

Other banking expenses increased 10.4%, to MAD 1.5 billion.

General operating expenses

General operating expenses in 2022 totaled MAD 4.9 billion,

up 2.5% from 2021. This rise is due mainly to a 4.7% rise in

depreciation and amortization expenses, and a 3.5% increase

in staff costs. The cost-to-income ratio came to 36.0% in

2022, compared with 36.2% a year earlier.

MAD millions

December

2022

December

2021

Change

MAD

millions

%

Staff costs 2,352 2,273 79 3.5%

Taxes 65 70-5-7.1%

External expenses 1,730 1,723 8 0.4%

Other general operating

expenses

105 93 12 12.9%

Depreciation and amortization

expenses*

600 574 27 4.7%

General operating expenses 4,853 4,733

121

2.5%

* Tangible and intangible assets

Gross operating income

Gross operating income fell 3.3% in 2022, to MAD 8.0 billion.

This change is due mainly to a 3.1% rise in NBI and to higher

general operating expenses of 2.5% And other non-banking

operating expenses, on the other hand, the deficit result from

financial asset transactions.

Income from ordinary activities

Income from ordinary activities totaled MAD 6.3 billion in 2022,

up 7.5% from 2021.

Net provisions totaled MAD 1,630 million, compared with MAD

2,347 million in 2021. This change was helped by the gradual

return to normal levels of nonperforming loans subsequent

to economic recovery. The provisions comprise :

• provisions (net of reversals) for nonperforming loans and

signature loans of MAD 955 million in 2022, compared with

MAD 2,725 million in 2021;

•

other provisions (net of reversals) of MAD 675 million in 2022,

compared with MAD 378 million in 2021;

The coverage ratio for nonperforming loans came to 71.3% in

2022, compared with 66.6% in 2021.

Net income

Net income rose by 3.3% in 2022, to MAD 4.2 billion.

Shareholders’ equity

Shareholders’ equity (excl. net income) grew by 2.0% in 2022,

to MAD 43.8 billion.

Total assets

At the end of 2022, total assets totaled MAD 400.3 billion, up 3.5%

from the previous year.

SECURITIES

Gross carrying

value

Current value

Redemption

value

Unrealized

capital gains

Unrealized

capital losses

Provisions

TRADING SECURITIES 63,263,182 63,263,182

. TREASURY BILLS AND SIMILAR

INSTRUMENTS

42,817,539 42,817,539

BONDS 222121 222121

OTHER DEBT SECURITIES 1852635 1852635

EQUITY SECURITIES 18337523 18337523

SUKUK CERTIFICATES 33364 33364

AVAILABLEFORSALE SECURITIES 1558973 1535684 3792 23289 23289

TREASURY BILLS AND SIMILAR

INSTRUMENTS

BONDS 1507870 1507870

OTHER DEBT SECURITIES

EQUITY SECURITIES 51103 27814 3792 23289 23289

SUKUK CERTIFICATES

INVESTMENT SECURITIES 10489709 10489709

TREASURY BILLS AND SIMILAR

INSTRUMENTS

8951539 8951539

BONDS 200000 200000

OTHER DEBT SECURITIES 1338170 1338170

SUKUK CERTIFICATES