Morocco’s Attijariwafa Bank half-year profits plunge by 57.5%

MOROCCO – Attijariwafa Bank, one of Morocco’s biggest lenders, has reported a 57.5% drop in first-half net profit attributable to shareholders to 1.2 billion dirhams ($130 million). Attijariwafa however noted that its net banking income for the first half of 2020 rose 5.1% to 12.4 billion dirhams. The bank which is part of king Mohammed VI’s holding company the SNI cited a surge in pandemic-related risks as the reason for the decline in profits. Operations in H1 2020 were penalized by a cost of risk that peaked at MAD3 billion…

Read More

Morocco’s Attijariwafa Bank defies tough macroeconomic trends to grow total assets to US$55bn in 2019

MOROCCO – Attijariwafa, Morocco’s largest bank has released its 2019 financial report revealing a steady earnings growth despite mixed macroeconomic trends in the group’s countries of presence, Morocco World News has reported. The Bank noted that by the end of 2019, the total consolidated assets of Morocco’s Attijariwafa Bank had reached MAD 532.6 billion (US$55 billion). Attijariwafa further noted that its operating income improved by 7.3%, reaching MAD 10.7 billion (US$1.11 billion). Shareholder’s equity increased by 6.8% to MAD 53.9 billion (US$5.57 billion), strengthening the group’s financial position. Attijariwafa brought…

Read More

Morocco’s Attijariwafa Bank signs partnership agreement with National Bank of Canada

MOROCCO – Attijariwafa bank (AWB) has signed a partnership agreement with the National Bank of Canada (NBC) to facilitate banking services for Moroccans residing in Canada, including students. The communications and marketing director of the Attijariwafa Bank group, Younes Kettani, signed the cooperation agreement with the first vice-president of the Canadian Bank, Jean-François Hanczakowski, in the presence of the head of Attijariwafa bank Canada, Mohamed Hamdouni. AWB CEO said in a statement that the cooperation agreement “will allow, the bank, to offer quality service and banking support to the customers…

Read More