Attijariwafa bank grows by 34.83% on First Bank’s composite growth Index during H1-2024

Attijariwafa bank's separate financial statements for the financial period ended June 30 revealed a composite growth rate of 34.83% during the first half of 2024.

This rate was measured using a composite index established by First Bank to assess the financial performance of banks across various branches of activity, including net profits, deposit portfolio, loan portfolio, and asset portfolio, during the first half of this year.

The Bank was able to achieve positive results in its four sub-indicators constituting the First Bank index, primarily net profits, which accounted for the largest proportion of the growth of the Bank's activity.

The bank's net profit jumped by 86.71%, reaching EGP 1.704 bn in the first half of 2024, compared to EGP 913.157 mn in the same period from 2023, with an increase of EGP 791.787 mn.

Loans portfolio was the second contributor to this growth, with the bank's total customer loans rising by 19.35% during the first half of this year, reaching EGP 52.536 bn by the end of June 2024, compared to EGP 44.019 bn by the end of 2023, with an increase of EGP 8.516 bn.

Asset portfolio was the third contributor to this growth, rising by 16.83% in the first 6 months of this year, to EGP 103.584 bn by the end of June 2024, compared to EGP 88.661 bn by the end of 2023, representing an increase of EGP 14.923 bn.

The Bank's deposit portfolio rose by 16.44% in the first half of this year, reaching EGP 88.933 bn by the end of June 2024, compared to EGP 76.377 bn by the end of 2023, with an increase of EGP 12.556 bn.