Press Release

Completion of the acquisition by Attijariwafa bank group of 100% of Barclays Bank Egypt

Casablanca- 3 May, 2017

In accordance with the agreement signed on October 4th, 2016, Attijariwafa bank has completed the acquisition of 100% of Barclays Bank Egypt after obtaining all the required regulatory approvals.

Barclays Bank Egypt, headquartered in Cairo, is present in 18 Egyptian cities with 56 branches and 1,500 employees. It posted a net banking income of EGP 1,950 million (MAD 1,062 million1) and a net income of EGP 663 million in 2016 (MAD 365 million1) as of 31 December 2016.

In 1Q2017, Barclays Bank Egypt reported a net income of EGP 257 million (MAD 140 million1) up +60%, benefiting from very favorable market conditions regarding loans growth, net interest margins and bond yields. Profitability increased significantly (RoA of 4.3% and RoE of 30.4% vs 3.0% and 22.5% respectively in the 1Q2016).

This transaction will allow Attijariwafa bank to widen its international footprint in the 3rd African economy with a population of 92 million inhabitants and a banking sector with significant growth prospects. It will also offer to Attijariwafa bank a unique opportunity for further development in the Middle East and Eastern Africa.

The financing of this acquisition has been anticipated since the 4th quarter of 2016 by reducing by half Attijariwafa bank's share capital in Wafa Assurance and issuing perpetual subordinate debt eligible on Capital Tier 1.

All of these operations will have a positive impact on Attijariwafa bank's capital ratios and an accretive impact on consolidated figures. The earning per share and RoA will increase respectively by MAD 2.1 (+9%) and 12 basis points2.

Press contact- Communication Group Head - Investors Relation

Mlle Ouafaa GHAOUAT Mme Ibtissam ABOUHARIA

Email : O.Ghaouat@attijariwafa.com 1 Email : i.abouharia@attijariwafa.com

1) 1EGP= 0,5448 MAD as of 03 May 2017

2) 2017 Forecast (12 months for earning figures)

A limited company with a capital of MAD 2,035,272,260. Head office: 2, boulevard moulay Youssef, 20,000 Casablanca, Morocco Phone: +212 (0) 5 22 22 41 69 or +212 (0) 5 22 29 88 88 - TR 333 - IF 01085221

www.attijariwafabank.com

Attijariwafa Bank published this content on 05 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 May 2017 10:54:17 UTC.

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