In 2021, Attijariwafa bank continued to support and accompany households, very small and medium-sized enterprises, large local and regional companies and institutions in the various countries of presence, helping to stimulate economic recovery. In Morocco, this support took the form of:
• The financing of 12,000 young people and project promoters for an amount of 2.7 billion dirhams, within the framework of the “Intilaka” initiative, which corresponds
41% of total loans granted by the banking sector;
• The production of 8.1 billion dirhams of real estate loans for buyers, for the year 2021, (i.e. a high with increases of +15% and +8% compared to 2020 and 2019 respectively) helping to finance access to housing for households and more particularly the middle classes and to support the real estate sector in this difficult situation;
• The distribution of 21.5 billion dirhams of “Damane” loans for the benefit of 51,605 companies, ie a market share of 37%1;
• The financing of 18,029 SMEs for an amount of 9.0 billion dirhams within the framework of the “Damane Express”, “Damane Attasyir” and “Damane Istitmar” initiatives, representing a market share of 72%;
• The registration of 105,000 auto-entrepreneurs, representing a market share of 58%;
• The enrichment of the offer of advice and support to project leaders and very small businesses through the Dar Al Moukawil network and the digital platform Daralmoukawil.com generating 2.5 million connections and more than 7 million interaction on social networks. This support has enabled the training of 40,500 Very Small Enterprises, the performance of 14,000 advice interviews and the organization of meetings for prospecting and commercial collaboration (B2B) between VSE clients.
GRADUAL RECOVERY OF RESULTS
Consolidated net banking income for the 2021 financial year amounted to 24.4 billion dirhams, an improvement of 2.2% compared to 2020 (+3.2%
at constant exchange rates). Growth in consolidated net banking income benefited from the diversification of businesses and geographies
of Attijariwafa bank. By business line, this development includes the growth in the Bank’s contribution to Morocco, Europe and offshore Tangier (+5.2%), International Retail Banking (+2.5% or + 5.4% at constant exchange rates) and Specialized Financing Subsidiaries (+4.0%). The contribution of the Insurance division recorded a drop of 26.3%, explained by the normalization of the claims experience of the “automotive” branch (following a significant improvement in 2020 in connection with the drop in travel induced by the health context ).
Operating income recorded an increase of +53.7% (+29.6%)* to stand at 9.5 billion dirhams thanks to confirmed discipline in terms of cost control and the gradual normalization of the cost risk (-33.9%).
Consolidated net income and net income group share amounted respectively to 6.2 billion dirhams and 5.1 billion dirhams, up
+66.2% (+38.9%)* and +70.5% (+39.2%)* without however reaching their pre-crisis levels (ie: 7.0 and 5.8 billion dirhams in 2019).
* By restating the 2020 financial year for the exceptional and non-recurring charge relating to the contribution to the special covid-19 fund.
STRENGTHENING ATTIJARIWAFA BANK’S FINANCIAL SOUNDNESS
Attijariwafa bank displays, for the 2021 financial year, a solid balance sheet and liquidity and solvency ratios in significant and continuous improvement. In 2021, Attijariwafa bank successfully closed two capital increase operations, by optional conversion of the dividends distributed into shares. These operations made it possible to increase the capital of Attijariwafa bank by an amount of 2.1 billion dirhams, to strengthen its financial solidity, to increase its capacity to finance the economy and to contribute to stimulating the recovery.
@MBITIONS 2025
The Attijariwafa bank teams mobilized in 2021 to design and launch the execution of the new @MBITIONS 2025 strategic plan. This plan is intended to be resolutely optimistic, ambitious and proactive in a context marked by profound changes on a global scale ( ex: geopolitical and economic transformations, accelerated evolution of our societies and customer expectations, urgency of the challenges posed by the acceleration of climate change,
acceleration of technological breakthroughs implemented in recent years, upheaval in working methods, exponential development of cyber crime, etc. offering substantial opportunities while inducing new threats. In this context, @MBITIONS 2025 was built around 3 major ambitions:
• Reinforcement of Attijariwafa bank’s position as a leading African banking and financial group with the aim of generating responsible and sustainable growth in its regions of presence and in new territories;
• Consolidation of the construction of a relational and citizen bank of reference, innovative, agile, competitive and taking advantage of the digital transformation, Big-Data as well as synergies between all the components of the Group;
• Continued alignment with the best international standards in terms of operational efficiency, risk management and compliance, thus ensuring healthy and sustainable growth.
Dividend
The Board has also decided to convene the Ordinary General Meeting of shareholders, to submit the financial statements as of December 31, 2021 for its approval, and to propose the distribution of a dividend of 15 dirhams per share.
