Attijariwafa Banks growth accelerates during the First quarter of 2023, recording a compound growth rate of 39

Analysis

Attijariwafa Bank’s growth accelerates to 39.51% during Q1-2023

6/22/2023 1:47:00 PM

Attijariwafa Bank’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 39.51%, compared to 38.12% during Q4-2022.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q1-2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 146.43% during Q1-2023.

It also achieved a growth in total loans and facilities to customers at a rate of 2.85% during Q1-2023, and an increase in both asset and deposit portfolios by 4.31% and 4.47%, respectively, at the same period.

The bank’s net profits also increased on First Bank composite growth index during Q4-2022 to achieve a growth rate of 128.29%.

The bank’s Total loan portfolio increased by 8.46% during Q4-2022, asset as well as deposit portfolios increased by 4.61% and 10.51%, respectively, at the same period.

It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website

indicators of Attijariwafa Bank

#	indicators	Value At Q1-2023	Growth rate %	Value At Q4-2022	Growth rate
1	Net Profits	434.536 million pounds	146.43 %	445.961 mllion pounds	128.89 %
2	Total Assets	64.372 Billion pounds	4.31 %	61.713 Billion pounds	4.61 %
3	Total customer loans	33.096 Billion pounds	2.85 %	32.18 Billion pounds	8.46 %
4	Total customer Deposits	54.857 Billion pounds	4.47 %	52.511 Billion pounds	10.51 %
5	Composite Growth Index		39.51		38.12 %