Attijariwafa Bank achieves a breakthrough in financial efficiency indicators At 9M-2023
First Bank
Attijariwafa Bank managed to achieve exceptional performance in its financial efficiency indicators during the first 9M -2023.
The following analysis reviews the bank's progress in financial efficiency indicators from January to September 2023.
The separate financial statements of Attijariwafa bank, ending on September 30 2023, revealed that the bank achieved a return on average equity (ROE) of 20.36% during the first 9 months of 2023, compared to 9.90% during the same period in 2022.
In addition, Return on Average Assets (ROA) increased to 2.02% during the first 9M -2023, compared to 1.12% during the same period in 2022.
The increase in both ROA and ROE is attributed to the success of Attijariwafa bank in achieving a strong leap in its net profits during the current year. The net profits of the bank surged by approximately 141%, reaching EGP 1.426 bn during the first 9 months 2023, compared to EGP 592.1 mn during the same period in 2022.
In terms of earnings per share, the bank recorded a growth rate of 141% during the period from January to September 2023, with the bank's share of net profits reaching about EGP25.67 per share during the first 9M- 2023, compared to EGP 10.66 during the same period in 2022.
It is worth mentioning that the bank achieved a growth of 21.8% in its Equity portfolio during the first 9 months of last year, as it increased from EGP 6.3 bn at the end of December 2022, to EGP 7.7 bn at the end of September 2023, an increase of EGP1.4bn.
The bank's asset portfolio also increased by 29.2% during the first 9M of the last year, reaching EGP 79.7 bn at the end of September 2023, compared to EGP 61.7 bn at the end of December 2022. an increase of EGP 18 bn. For more info and news about, click on Attijariwafa Bank "Read More."
