MANAGEMENT ACCOUNTING STATEMENT at December 31, 2022(thousand MAD)

NONPERFORMING CUSTOMER LOANS at December 31 2022thousand MAD

SALES at December 31 2022thousand MAD

I - RESULTS ANALYSIS 12/31/2022 12/31/2021

+ Interest and similar income 11 222 867 11 029 346

- Interest and similar expenses 2 496 665 2 523 001

NET INTEREST MARGIN 8 726 202 8 506 345

+ Income from participatory financing

- Expenses on participatory financing

PARTICIPATORY FINANCING MARGIN

+ Income from lease-financed fixed assets 162 256 82 540

- Expenses on lease-financed fixed assets 93 623 234 859

NET INCOME FROM LEASING ACTIVITIES 68 633 -152 319

+ Income from fixed assets given in Ijara

- Expenses on fixed assets given in Ijara

NET INCOME FROM IJARA ACTIVITIES

+ Fees received 2 153 237 2 012 070

- Fees paid 1 859 1 380

NET FEE INCOME 2 151 378 2 010 690

+ Income from trading securities 6 904 1 249 501

+ Income from available-for-sale securities 15 835 2 360

+ Income from foreign exchange activities 1 178 128 1 014 536

+ Income from derivatives activities 830 186 98 466

INCOME FROM MARKET ACTIVITIES 2 031 053 2 364 863

+ Result of Moudaraba and Moucharaka Securities Trasactions

+ Other banking income 2 037 189 1 733 767

- Other banking expenses 1 539 446 1 393 856

NET BANKING INCOME 13 475 010 13 069 490

+ Income from long-term investments-711 902 -256 722

+ Other non-banking operating income 64 805 165 053

- Other non-banking operating expenses 1 174

- General operating expenses 4 853 219 4 732 623

GROSS OPERATING INCOME 7 973 520 8 245 198

+ Net provisions for non-performing loans and signature loans-955 269 -2 725 085

+ Other net provisions-674 812 378 369

NET OPERATING INCOME 6 343 438 5 898 481

NON OPERATING INCOME-376 707 -253 201

- Income tax 1 731 891 1 545 796

NET INCOME FOR THE FINANCIAL YEAR 4 234 840 4 099 484

II- TOTAL CASH FLOW

12/31/2022 12/31/2021

+ NET INCOME FOR THE FINANCIAL YEAR

4 234 840 4 099 484

+ Depreciation, amortisation and provisions for fixed asset impairment 600 268 573 541

+ Provisions for impairment of long-term investments 718 107 442 440

+ General provisions 593 895 455 767

+ Regulated provisions

+ Extraordinary provisions

- Reversals of provisions for depreciation of long-term investments 132 205 1 162 709

- Capital gains on disposal of fixed assets 3 236 72 001

+ Losses on disposal of fixed assets 1 140

- Capital gains on disposal of long-term investments 715 629

+ Losses on disposal of long-term investments 529 912

- Write-backs of investment subsidies received

+ TOTAL CASH FLOW 6 012 809 4 150 804

- Distributions 3 227 112 2 308 456

+ SELF-FINANCING 2 785 697 1 842 348

Disbursed loans Signature loans Amount

Provisions for

disbursed loans

Provisions for

signature loans

Amount

12312022 16 460 759 1 395 505 17 856 264 11 743 122 853 585 12 596 707

2022 2021 2020

19 569 227 18 737 597 18 580 424