Two years of achievement, Attijariwafa bank shines under Essekelli’s leadership
First Bank
Mouawia Essekelli, Managing Director of Attijariwafa Bank Egypt, has been able to record a pioneering success story with the bank since taking executive leadership in December 2022, for almost two years Essekelli has been able to significantly enhance the bank's position in the Egyptian market and support its financial indicators.
Essekelli pursued an expansion strategy aimed at expanding the Bank's network of branches, which reached 63 branches in various governorates of Egypt, which allowed the Bank to reach a larger segment of customers, including individuals and SMEs.
Since assuming executive leadership, Essekelli has succeeded in achieving significant financial growth in the Bank's main indicators. The Bank's portfolio of assets rose by about EGP 42 bn, reaching EGP 103.6 bn by the end of June 2024, compared to 61.7 bn by the end of December 2022, bringing growth of 68%, while the portfolio increased in the first half of this year only by about 17%.
The Bank's total loans and facilities portfolio in Essekelli era jumped by 63.3% during the period under analysis, moving from EGP 32.2 bn by the end of December 2022, reaching 52.5 bn by the end of June 2024, bringing an increase of EGP 20.4 bn, while the total portfolio increased by 19.4% during the first half of this year.
Corporate loans portfolio jumped by 71%, reaching EGP 42.7 bn to June 2024, compared to 24.97 bn by the end of December 2022. The portfolio grew only during the first half of this year, rising by 20.82%, which is the fastest quarterly growth in corporate loans with the Bank over the last 4 years.
The significant increase in the bank's total corporate loan portfolio was driven by the remarkable growth in the corporate direct loan portfolio, which jumped by 88.3% during the period under analysis, reaching EGP 6.9 bn by the end of June 2024, compared to 3.7 bn by the end of December 2022, supporting the bank's clear strategy and vision in supporting corporates in the Egyptian market. The Bank's customer deposits increased by 69.4% during the period under analysis, reaching EGP 88.9 bn by the end of June 2024, compared to EGP 52.5 bn by the end of December 2022, bringing an increase of EGP 36.4 bn.
The Bank's net profit jumped by 98%, hitting EGP 2.06 bn in 2023, compared to EGP 1.01 bn in 2022, while the Bank's net profit in the first half of 2024 jumped 87% to EGP 1.07 bn compared to the first half of 2023.
In addition to the Bank's great success in key indicators, Essekelli recognized the importance of digital transformation in attracting customers and meeting their changing needs, so it launched a series of initiatives that focused on developing digital solutions and providing innovative banking services, by improving online banking and launching cutting-edge applications, enhancing customer experience and making banking operations easier and faster.
He also worked on a variety of financial products targeting a wide range of customers, including loans for large corporates, supporting SMEs, and providing flexible personal loans, which helped meet the varying needs of customers, leading to the growth of the loan portfolio and a better balance in the bank's revenue structure.
Essekelli has strengthened the role of business and a bank in the area of social responsibility. The Bank has launched several initiatives aimed at supporting education, health and the empowerment of young people. Through these initiatives, the Bank has successfully strengthened its image as a committed institution to the community, earning customer trust and community support
