Attijariwafa bank Records during 2024 the Fastest Quarterly Growth in Corporate Loans in 4 Years
First Bank
Attijariwafa bank's financial statements revealed strong growth in corporate loans during the first half of this year. The corporate loan portfolio jumped by 20.82%, with an increase of EGP 7.36 bn, to EGP 42.69 bn pounds by the end of June 2024, compared to EGP 35.33 bn by the end of December 2023, achieving the fastest quarterly growth in its corporate loan portfolio since the end of 2020.
Turning to the growth rates achieved in the past years, the Bank achieved 18.96% growth in the first half of 2023, after its corporate loans reached about EGP 29.70 bn by the end of last year, compared to EGP 24.97 bn by the end of December 2022.
As for its performance during the first 6 months of 2022, Attijariwafa bank achieved a growth of 18.75% in corporate loans, moving from EGP 18.33 bn by the end of 2021, reaching EGP 21.77 bn by the end of 2022, while registering a rise of 1.28% during the same period of 2021
Overall, the Bank achieved outstanding performance during the first half of this year, jumping its net profit by 86.75%, reaching EGP 1.71 bn in the first half of 2024, compared to EGP 913 mn in the same period from 2023, with an increase of EGP 792 mn.
Net interest income rose to EGP 3.04 bn during the first six months of this year, compared to EGP 1.96 bn during the same period in 2023, to grow by 55%, with an increase of EGP 1.08 bn.
Its customer deposit portfolio also climbed to EGP 88.93 bn by the end of June 2024, compared to EGP 76.38 bn by the end of last year, with a growth of 16.44% and an increase of EGP 12.55 bn.
Total customer loans jumped by EGP 8.52 bn during the first half of this year, after hitting EGP 52.54 bn by the end of June, compared to EGP 44.02 bn by the end of December 2024
