Attijariwafa Bank Investment Strategy by March-2023end
First Bank
The separate financial statements of Attijariwafa Bank, ending on March 31, 2023, revealed a growth rate of 4.31% in the bank's total assets during the first quarter of the current year, recording EGP 64.372 bn by the end of March 2023, compared to EGP 61.713 bn by the end of December 2022, and an increase of EGP2.659 bn.
Analyzing the investment trends of Attijariwafa Bank by the end of March 2023:
The bank focuses on deploying a larger proportion of its funds in lending customers instead of financial investments. This is evident from the increased relative weight of total customer loans in the bank, compared to the percentage of financial investments, which witnessed an increase in its relative weight by the end of March 2023.
Loans and Facilities to customers
Despite a slight decrease in its relative weight, they accounted for the largest share of the bank's investment trend, with a relative weight of 49.30% of its total assets by the end of March 2023, compared to 50.14% by the end of December 2022.
Net portfolio of loans and facilities to customers increased by a growth rate of 2.56% during the first quarter of the current year, reaching EGP 31.734 bn by the end of March 2023, compared to EGP 30.943 bn by the end of December 2022, an increase of EGP 791 mn.
Total Financial Investments
Although its relative weight has noticeably increased, total portfolio of securities came in second place of the bank's investment trends, accounting for a relative weight of 33.37% of its assets by the end of March 2023, compared to 31.18% by the end of December 2022.
Total financial investments portfolio at Attijariwafa Bank increased by a growth rate of 11.60% and an increase in of EGP 2.233 bn, reaching EGP 21.478 bn by the end of March 2023, compared to EGP 19.245 bn by the end of December 2022.
Balances with Banks
The relative weight of Balances with Banks increased to occupy the third largest relative weight of the bank's total asset portfolio, amounting to 9.98% by the end of March 2023, compared to a relative weight of 5.59% by the end of December 2022, The volume of Attijariwafa Bank's balances with banks increased by a growth rate of 86.28% and an increase of EGP 2.975 bn during the first quarter of the current year, reaching EGP 6.423 bn by the end of March 2023, compared to EGP 3.448 bn by the end of December 2022.
Cash and Balances with CBE
Despite the decrease in the relative weight of Cash and Balances with CBE, it ranked fourth in terms of the bank's investment Trend, with a relative weight of 3.90% of the bank's total assets by the end of March 2023, compared to a relative weight of 9.30% by the end of December 2022.
Its total value amounted to EGP 2.513 bn at the end of March 2023, compared to EGP 5.738bn at the end of December 2022, declined by 56.20%during the first quarter of this year.
Other Assets
The relative weight of other assets fell to 2.11% of the bank's total assets by the end of the previous March, amounting to EGP 1.358 bn, compared to a relative weight of 2.25% and a value of EGP 1.391 bn by the end of December 2022.
Bank's Loan Market Trends By examining the components of total loan portfolio, it is evident that the bank leans more towards granting credit to corporates rather than retail, given the higher relative weight at the end of the first quarter of 2023.
Corporate Loans
Total corporate loans accounted for a relative weight of 78.01% of the bank's total customer loans by the end of March 2023, compared to 77.59% by the end of December 2022.
The bank's total corporate loan portfolio increased by a growth rate of 3.40% and an increase of EGP 849 bn during the first quarter of the current year, reaching a value of EGP 25.817bn by the end of March 2023, compared to EGP 24.968 bn by the end of December 2022.
Retail Loans
The relative weight of Retail loan portfolio witnessed a slight decrease to reach 21.99% of the bank's total customer loans by the end of March 2023, compared to a relative weight of 22.41% by the end of December 2022, despite relative weight decrease but rose with a growth rate of 0.93% and an increase of EGP67 mn during the first quarter of the current year, to record EGP 7.279 bn by the end of March 2023, compared to EGP 7.212 bn at the end of December 2022.
