RESULTS at 31 March 2017

Attijariwafa bank's press release

Strong growth in line with the group's strategic ambitions

Attijariwafa bank's Board of Directors, chaired by Mr Mohamed El Kettani, met on 25 May 2017, in order to review the activity and approve the financial statements for the 31 March 2017.

› Total consolidated assets

428.1

billion

+5.6 %*

› Consolidated shareholders' equity

46.2

billion

+14.8 %*

› Net banking income

5.0

billion

+4.6 %*

› Operating income

2.2

billion

+11.5 %*

› Net income

1.5

billion

+9.7%*

› Net income group share

1.2

billion

+6.7 %*(+10.8%

› Total network

(*) Base March-16

3,999

branches in

26 countries

at a constant scope1)

Attijariwafa bank reported, in the first quarter of 2017, a satisfactory performance in a context marked by a slight recovery in loan growth and a continued

CONTINUING REGIONAL INTEGRATION

Attijariwafa bank completed, on May 3rd

2017, the

improvement in asset quality in Morocco.

NET INCOME UP 9.7%

Net Banking Income grew by 4.6% to MAD 5.0 billion benefiting from good business performance of all the group's operating divisions.

Operating Income soared by 11.5% to MAD 2.2 billion as a result of continued focus on cost control (operating expenses up +4.6%) and a reduction of cost of risk (-18.7%).

Consolidated net income totaled MAD1.5 billion, up 9.7% and net income group share rose by 6.7% to MAD 1.2 billion. Net income group share would have increased by 10.8% at a constant scope1.

The Group's financial position strengthened thanks to the increase of shareholders' equity by 14.8% to MAD

46.2 billion and profitability remained in line with best standards (RoE of 13.2% and RoA of 1.4%).

acquisition of 100% of Barclays Bank Egypt, which

become Attijariwafa bank Egypt.

This transaction enables Attijariwafa bank group to enter a market with significant growth prospects:

  • A diversified economy with high growth potential;

  • A population of 100 m of inhabitants, young urbanized and underbanked;

  • A healthy and profitable banking sector with significant prospects in terms of banking penetration.

The consolidation of Attijariwafa bank Egypt is scheduled for June 2017. Attijariwafa bank Egypt reported in 1Q2017 net income of EGP 257 million (MAD 141 million2), up 60% yoy. The Board of Directors congratulated the teams of all the entities of the Group for their achievements in the first quarter of 2017.

The board of Directors Casablanca, May 25, 2017

(1) Consolidation in pro-forma of Wafa Assurance at 39,65% in the 1Q2016 (2) 1EGP = 0,55 MAD at May 23, 2017

Attijariwafa bank, a limited company with a capital of MAD 2,035,272.260. Head office : 2, boulevard Moulay Youssef, Casablanca. Approved as a credit institution by order of the Minister of Finance and Privatization n° 2269-03 of the 22 December 2003 as amended and supplemented. Trade Register n° 333.

Attijariwafa Bank published this content on 25 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 May 2017 19:15:17 UTC.

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