Attijariwafa Bank achieves strong performance in its financial efficiency indicators during 2023
First Bank
Attijariwafa Bank, achieved a significant progress in its financial efficiency indicators during the last year, The following analysis highlights bank's development in financial efficiency indicators in 2023.
The financial statements of Attijariwafa Bank, ending on December 31 2023, revealed that the bank achieved a return on average equity (ROE) of 27.16% during 2023, compared to 17.13% in 2022.
The return on average assets (ROA) of the bank rose to reach 2.67% during the last year, compared to 1.92% during 2022.
The main reason for the increase in ROE and ROA is the bank's net profits surged with a growth rate of 93.2%, reaching EGP 2.005 bn during 2023, compared to EGP 1.038 bn in 2022, with an increase of EGP 967mn.
In terms of earnings per share, the bank recorded a growth rate of 93.3% during the last year, with the bank's share of net profits reaching about EGP 36.1 per share in 2023, compared to EGP 18.68 during 2022.
It is worth mentioning that the bank achieved a growth of 34% in its Equity portfolio during the 2023, as it increased from EGP 6.32 bn at the end of December 2022 to EGP 8.45 bn at the end of December 2023, an increase of EGP 2.13bn.
The bank's asset portfolio also increased by 44% during the last year, reaching EGP 88.66 bn at the end of December 2023, compared to EGP 61.71 bn at the end of December 2022, an increase of EGP 26.96 bn.
