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Attijariwafa Bank: NBI improves by 3.3% at the end of September

The Attijariwafa Bank (AWB) group saw its Net Banking Income (NBI) stand at MAD 18.2 billion at the end of September 2020, an improvement of 3.3% compared to the same period of 2019.

According to the results for the first nine months of the 2020 financial year, this change notably includes the drop in the margin on commissions (-9.2%) and the results of market activities (-18.5%) impacted by the health crisis.

The same source specifies that the cost of risk stood at MAD 4.6 billion, showing an increase of 239% compared to the same period of the year 2019, under the effect of the deterioration of risks and the anticipatory and cautious provisioning linked to the health crisis of the novel coronavirus (covid-19) pandemic and its effects on the economic environment.

Thus, the consolidated net income and the net income group share came out respectively to 2.5 billion dirhams and 2 billion dirhams, down 52.5% and 55.2%.

At the same time, Attijariwafa bank continued, in Q3-2020, its exceptional mobilization and solidarity commitment to its customers in the various countries of presence in order to help mitigate the impact of the crisis. In Morocco, this mobilization made it possible to finance 5,595 young entrepreneurs and project leaders for an amount of 1 billion dirhams, within the framework of the “Intelaka” initiative, to grant 6.2 billion dirhams of “Damane Oxygene” credits benefiting 18,200 very small, small and medium-sized enterprises (SMEs) and reaching nearly 35% of market share, as well as granting MAD 10 billion of “Damane Relance” loans to 8,300 SMEs.

The banking group has, thus, accompanied and supported more than 32,900 Moroccan companies, mostly small businesses, through the distribution of 27.1 billion dirhams of additional credits, since the beginning of the crisis.

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