Attijariwafa Bank improves its NBI at the end of September

The net banking income of the Attijariwafa Bank (AWB) group amounted to 18.2 billion dirhams (MMDH) at the end of September 2020, an increase of 3.3% compared to the same period a year earlier. This change includes in particular the drop in the margin on commissions (-9.2%) and the results of market activities (-18.5%) impacted by the health crisis, explains AWB, which has just published its results for the nine first months of fiscal year 2020. The cost of risk stood at MAD 4.6 billion, showing an increase of 239% compared to the same period of year 2019, under the effect of deterioration of risks and of the anticipatory and prudent provisioning linked to the health crisis of the pandemic of the new coronavirus (Covid-19) and its effects on the economic environment, reports the MAP.

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 Oxygène” credits benefiting 18,200 very small, small and medium-sized enterprises (TPME) and reaching nearly 35% of market share, as well as granting MAD 10 billion of “Damane Relance” loans to 8,300 TPME.

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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