Attijariwafa Bank jumps by 39.51% on First Bank Composite Growth Index during Q1-2023

The separate financial statements of Attijariwafa bank, which ended on March 31, 2023, revealed that the bank recorded a composite growth rate of 39.51% in all branches of activity that include net profits, deposit, loan, and bank asset portfolios.

This rate was measured through a composite index developed by First Bank to measure the financial performance of banks with a single number, during the first quarter of 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 146.43% to record EGP 434.5 mn during Q1 2023, compared to EGP 176.3 mn at the same period 2022.

Furthermore, The bank's Total customer loans achieved a growth rate of 2.85% to reach EGP 33.1 bn by the end of March 2023, compared to EGP 32.2 bn by the end of 2022، with an increase of EGP 916 mn.

Total customer deposit portfolio came in second place  with a growth rate of 4.47% during the first quarter of this year, bringing the total portfolio from EGP 52.5 bn at the end of December 2022 to EGP 54.9 bn at the end of the first quarter of this year, achieving an increase of EGP 2.3 bn.

In addition, the bank's Total asset portfolio Jumped to record EGP 64.4 bn by the end of March 2023, compared to EGP 61.7 bn by the end of 2022, achieving a growth rate of 4.31%, and an increase of EGP 2.7 bn.