Attijariwafa Bank's net profits grow by 86.5%, recording EGP 810mn during Q1- 2024

The financial statements of Attijariwafa Bank, announced on the bank's official website, revealed a 86.5% increase in its net profits, reaching EGP 810.3 mn during the first quarter of 2024, compared to EGP434.5mn during the same period of 2023, with an increase of EGP375.7mn.

The bank's pre-tax income profits surged by 83%, with an increase of EGP532 mn, totaling EGP1.174bn during Q1- 2024, compared to EGP 641.8 mn during the same period of 2023.

The total portfolio of the bank's assets increased by 10.2%, with a value increase of EGP 9.07 bn during the first 3 months of this year, reaching EGP 97.73 bn by the end of March 2024, compared to EGP88.66 bn at the end of December 2023.

The size of the bank's deposit portfolio also increased to EGP83.88bn by the end of March 2024, compared to EGP76.38 bn at the end of December 2023, showing a growth rate of 10% and an increase of EGP7.5bn during the first 3 months of the current year.

Additionally, total customer loans and facilities increased by 10.6%, with an increase of EGP 4.68 bn during Q1-2024, reaching EGP48.70bn by the end of March 2024, compared to EGP44.02bn at the end of December 2023.