Attijariwafa bank grows by 55% on FirstBank composite growth index during 2023

The financial statements of Attijariwafa bank, which ended on December 31st of last year, revealed that the bank achieved a composite growth rate of 55% during 2023.

This growth rate was measured using a composite index developed by First Bank to assess the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio, during 2023.

Attijariwafa Bank managed to achieve positive results across all its sub-indicators constituting First Bank composite growth index, led by its net profits, which saw the most significant growth at a rate of 93.20%, an increase of EGP 967.4 mn, reaching EGP 2.005 bn during 2023, compared to EGP1.038mn during 2022.

The size of the customer deposit portfolio was the second contributor to the growth of Attijariwafa Bank, which rising by 45.45% during the last year, reaching EGP 76.4 bn by the end of December 2023, compared to EGP 52.5 bn by the end of December 2022, an increase of EGP 24 bn.

The size of Asset portfolio was the third contributor to this growth, with a rate of 43.69%, an increase of approximately EGP 27 bn during the last year, reaching EGP 88.7 bn by the end of December 2023, compared to EGP 61.7 bn by the end of December 2022.

In addition, Total loan portfolio and credit facilities at the bank surged by 36.79%, and an increase of approximately EGP 11.8bn during 2023, reaching EGP 44 bn by the end of December 2023, compared to EGP 32.2 bn by the end of December 2022.