Attijariwafa bank S A : Press Release FY2020 (english version)

RESULTS at 31 December 2020

Strong commitment to support clients in all the economies of presence in an unprecedented crisis context

Attijariwafa bank's Board of Directors, chaired by Mr Mohamed El Kettani, met on 23 February 2021, in order to review the activity and approve the financial statements as of 31 December 2020.

Measures deployed to support the economy since the beginning of the crisis:

• › 6,500 young entrepreneurs funded

• › 215,000 loan repayment requests approved1

• › 46% of total "INTELAKA" loans granted by the sector

• › 33% of total "DAMANE OXYGENE" loans granted by the sector

• › 30% of total "DAMANE RELANCE" loans granted by the sector

• › 68,700 VSMEs financed

• › MAD 40 billion of new loans approved

(*) Consolidated customer deposits + assets under management + bancassurance assets (**) Operations available on digital channels: eg: transfers, disposals, payment of invoices...

(***) Electronic payments includes card payments (market share of 26% in 2020) and payments through digital channels, ex. Invoice payments…

Attijariwafa bank releases its 2020 full year earnings in a context marked by the Covid-19 crisis and its health, social and economic consequences.

RESULTS IMPACTED BY THE DETERIORATION OF CREDIT RISK

In 2020, loans and total savings collected amounted respectively to MAD 333.7 billion (+3.1%) and MAD 508.7 billion (+6.9%) on a consolidated basis.

Net Banking Income rose by 1.6% to MAD 23.9 billion driven by the increase of net interest margin (+5.7%).

General operating expenses decreased by 1.2%1 as a result of continued focus on cost control. Cost-to-income ratio improved by 1.4 point to 46.5%1.

The cost of risk amounted to MAD 5.5 billion, up 243% compared to 2019 due to the significant deterioration of credit risk

• (1) Excluding the exceptional contribution to the Covid-19 special fund

• (2) Loans with government guarantee between 80% and 95%

caused by the Covid-19 crisis and the related forward-looking and prudent provisioning.

Consolidated cost of risk reached 1.51% (0.46% in 2019).

Net income group share totalled MAD 3.0 billion, down 48.1%.

1ST CONTRIBUTOR TO SUPPORT SMES

Attijariwafa bank has deployed, since the beginning of the crisis, a series of measures aiming to guarantee the health security of employees while maintaining the continuity of service in optimal conditions to serve customers in the countries of presence.

Attijariwafa bank's teams in the front lines have shown strong commitment in servicing clients and communities in various countries of presence helping them better manage the crisis impacts. In Morocco, Attijariwafa bank provided support to more than 68,700 companies, mainly SMEs,through the distribution of MAD 40 billion of additional loans since the beginning of the crisis:

• • 6,500 young entrepreneurs financing their projects for an amount of MAD 1.25 billion, within the "Intelaka" initiative, representing 46% of the total loans granted by the banking sector;

• • 18,538 "Damane2 Oxygen" loans distributed to SMEs and VSEs, for an amount of MAD 5.7 billion, i.e. a market share of 33%;

• • MAD 10.7 billion of "Damane2 Relance" loans granted to 12,338 companies, i.e. a market share of 30%.

  The Board of Directors congratulated all the Group's teams for their commitment and their mobilization in favor of customers and for their strict compliance with health standards.

The Board of Directors Casablanca, February 23, 2021

Attijariwafa bank, a limited company with a capital of MAD 2,098,596,790. 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.