Attijariwafa Bank achieves strong performance in its financial efficiency indicators during H1- 2024
First Bank
Attijariwafa Bank, achieved a significant progress in its financial efficiency indicators during the first half of the current year, The following analysis highlights bank's development in financial efficiency from January to June 2024:
Attijariwafa Bank's financial statements, which ended on June 30, 2024, revealed that the bank achieved return on average equity (ROE) of 18.35% in the first half of 2024, compared to 13.56% in the same period from 2023.
The return on average assets (ROA) rose to 1.77% in the first half of 2024, compared to 1.33% in the first half of 2023.
The main reason for the rise in ROE and ROA of the Bank was able to achieve net profits of EGP 1.705bn during the first half of 2024, compared to EGP913mn during the same period in 2023, with a growth rate of 86.75%.
In terms of earnings per share, Attijariwafa Bank recorded growth of 85.04% during the period from January to June of this year, with Attijariwafa Bank's share of net profits reaching around EGP 30.42per share in the first half of 2024, compared to EGP 16.44 during the same period from 2023.
It is worth mentioning that the Bank achieved a growth in its equity portfolio of 20.4% in the first half of this year, registering EGP 10.14 bn by the end of June 2024, compared to EGP8.45bn by the end of December 2023, with an increase of EGP1.99bn.
The volume of the Bank's asset portfolio also increased at a growth rate of 16.83% during the first 6 months of the current year, recording EGP 103.59 bn by the end of June 2024, compared to EGP88.66 bn by the end of December 2023, with an increase of EGP14.92bn.
