Attijariwafa records EGP 114.9 bn during 9M-2024, achieving the fastest quarterly growth in its asset portfolio in 5 years

Attijariwafa has significantly strengthened its financial position in the first 9 months of this year As evidenced by the rise in its asset volume to EGP 114.889 billion by the end of September 2024, compared to EGP 88.661 billion by the end of 2023, with a growth of 30% and an increase of EGP 26.228 billion, recording its fastest quarterly growth in 5 years, and its largest increase ever in value

This strong growth is the result of Attijariwafa's expansionary strategy, which has positively reflected the overall financial performance of the Bank, establishing its position as one of the leading financial institutions in the market and contributing to its record levels of growth, the highest in recent years.

In terms of growth rates in the past years, during the first 9M of 2023, the Bank achieved growth of about 29% in its total assets, while it recorded growth of about 27% in the same period in 2022

As for its performance during the first nine months of 2021, it recorded growth of about 10%, while it achieved a rise of about 29% during the same period of 2020

The Bank’s financial performance during the current year reflects a strong trend towards inclusive and sustainable growth, with marked rises in several key financial indicators, reflecting its ambitious strategy and future vision to strengthen its position in the banking market.

The bank's net profits jumped to EGP 2.761 billion in the first 9 months of 2024, compared to EGP 1.426 billion in the same period from 2023, with growth of 93 .62% and an increase of EGP 1.335 billion.

Pre-income tax profit rose by 84.56% to EGP 3.870 billion during the first 9 months of 2024, compared to EGP 2.097 billion during the corresponding period of 2023, with an increase of EGP 1.773 billion.

Net interest income rose to EGP 4.65 billion in the first 9 months of 2024, compared to EGP 3.052 billion in the same period from 2023, with a growth of 52.36% and an increase of EGP 1.598 billion.

Net fees and commissions income jumped by 76.81%, to EGP 951.941 million during the first 9 months of this year, compared to EGP 538.391 million during the same period in 2023, representing an increase of EGP 413.55 million.

Customer deposit portfolio rose by 26.46% in the first 9 months of 2024, recording EGP 96.587 billion by the end of September, compared to EGP 76.377 billion by the end of 2023, with an increase of EGP 20.21 billion.

Total customer loans jumped to EGP 58.635 billion by the end of September 2024, compared to EGP 44.019 billion by the end of 2023, with a growth of 33.20% and an increase of EGP 14.616 billion.

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