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