Attijariwafa Bank's net profits grow by 93.20%, recording EGP 2 bn during 2023
First Bank
The financial statements of Attijariwafa Bank, announced on the bank's official website, revealed a 93.20% increase in its net profits, reaching EGP 2.005 bn during 2023, compared to EGP1.038bn in 2022, with an increase of EGP967.382mn.
The bank's pre-tax income profits surged by 78.67%, with an increase of EGP1.271 bn, totaling EGP2.887 bn during 2023, compared to EGP 1.616 bn during 2022.
Net interest income rose by 61.98% over the past year, registering EGP 4.245 bn in 2023, compared to EGP 2.62 bn in 2022.
Net fees and commissions income increased from EGP 493.75 mn in 2022 to EGP 830.93mn in 2023, with a growth of 68.29% and an increase of EGP 337.185 mn
The total portfolio of the bank's assets increased by 43.69%, with a value increase of EGP 26.96 bn during the last year, reaching EGP 88.661 bn by the end of December 2023, compared to EGP61.70 bn at the end of December 2022.
The size of the bank's deposit portfolio also increased to EGP76.38 bn by the end of December 2023, compared to EGP52.5 bn at the end of December 2022, showing a growth rate of 45.45% and an increase of EGP23.86bn during the last year.
Additionally, Net customer loans and facilities increased by 37.86%, with an increase of about EGP 11.715 bn during the last year, reaching EGP42.65bn by the end of December 2023, compared to EGP30.943 bn at the end of December 2022.
