Attijariwafa bank : Press release 1H2018

Attijariwafa bank's press release

Steady earnings growth driven by an ambitious strategy

MAD

490.5 billion

MAD

11.3 billion

MAD

MAD

3.4 billion 2.8 billion

4,393 branches in 25 countries 20,030 employees

Growth rates calculated between 1H 2017 and 1H 2018

(*) Consolidated customer deposits + assets under management + bancassurance assets (**) Gross consolidated loans

(***) Operations with a low added value for branches and migrated to digital banking, eg: transfers, disposal, payment of invoices… ( **** ) Electronic payment through different channels (eg: payment cards, ebanking, ATM, mobile banking…)

NET INCOME GROUP SHARE UP 6.3%

Net banking income grew by 7.5% to reach MAD 11.3 billion, supported by all its components: net interest income (10.8%), net fee income (+12.0%) and income from market activities (+10.9%).

It has already contributed to tangible advances in terms of digitalization, electronic payments and migration from a product centric towards customer-centric distribution model meeting specific clients' needs.

Gross operating income soared by 6.0% to MAD 6.0 billion. Consolidated net income rose by 5.6% to MAD 3.4 billion and net income group share totaled MAD 2.8 billion up 6.3%. Profitability improved significantly (RoE : 16.4% vs. 14.7% in 1H 2017, RoA: 1.41% vs. 1.40% in 1H 2017).

In order to strengthen employee commitment to the execution of the strategic plan, the Board of Directors has decided to request the approval of the General Assembly for a Public Share Offering reserved to employees.

AN AMBITIOUS STRATEGY AND BEST-IN-CLASS HR POLICY

Attijariwafa bank is starting the fourth quarter of 2018 with optimism and commitment around the implementation of the strategic plan « Energies 2020 ».

This plan aims at positioning Attijariwafa bank as a « relationship- focused bank » for all its customers and leveraging new digital and « Big Data » technologies.

The Board of Directors has congratulated the teams from all Group entities for their commitment and achievements in the first half of 2018. The Board has also resolved to call the Extraordinary General Assembly, which will examine the proposals for a Public Share Offering reserved to Group employees.

Board of Directors

Casablanca, 18th September 2018

Attijariwafa bank, a limited company with a capital of MAD 2,035,272.260. Head office : 2, boulevard Moulay Youssef, Casablanca. Approved as a credit institution by order of the Minister of Finance and Privatization n° 2269-03 of the 22 December 2003 as amended and supplemented. Trade Register n° 333.

RESULTS at 30 June 2018

Attijariwafa bank's Board of Directors, chaired by Mr Mohamed El Kettani, met on 18th September 2018, in order to review the activity and approve the financial statements for the first half of 2018.

• › Total consolidated assets

• › Net banking income

• › Net income

• › Net income group share

• › Total network

• › Total staff

+5.0 % +7.5 % +5.6 % +6.3 %