Attijariwafa Bank grows by 49.8% on First Bank composite growth index during H1- 2023

The financial statements of Attijariwafa bank, ending on June 30th of the previous year, revealed a composite growth rate of 49.77% during the first half of 2023.

This growth rate was measured using a composite index developed First Bank to measure the financial performance of banks as a whole, covering all branches of activity, including net profits, deposit portfolio, loan portfolio, and asset portfolio, from January to June 2023.

The bank achieved positive results in all four sub-indices that make up First Bank index, with the highest being the bank's net profits, which contributed significantly to the bank's growth, with a rate of 146.63%, reaching EGP 913.2 mn during the first half of 2023, compared to EGP370.3 mn in the same period in 2022, an increase of EGP 542.9 mn.

The bank's total asset portfolio was the second contributor to this growth, increasing by 22.32% during the first half of the current year, reaching approximately EGP75.5 bn by the end of June 2023, compared to EGP 61.7 bn by the end of December 2022, an increase of EGP13.8 bn.

Total customer loan portfolio at the bank contributed to this growth as well, ranking third with a growth rate of 15.25% and an increase of about EGP 4.9 bn during the first half of the current year, reaching EGP 37.1 bn by the end of June 2023, compared to EGP32.2 bn by the end of December 2022.

The bank's deposit portfolio also increased by 14.88% during the first half of the current year, reaching EG60.3 bn by the end of June 2023, compared to EGP52.5 bn by the end of December 2022, with an increase of EGP 7.8 bn.