Attijariwafa Bank Sa · CSEMA:ATW
Attijariwafa Bank Sa — H1 2025 Earnings Presentation
47 slides from Attijariwafa Bank Sa's earnings presentation, June 2025
Slide 1: Attijariwafa bank
Si, Lagugyloill ao Attijariwafa bank Believe in you
Slide 2: Download the presentation
BOS You can download the presentation at: Oe SCAN HERE taal A> https://ir.attijariwafabank.com/ scnaran 4 = uae Reports r fur m n, contact us a on EN @ o.baqaeattijariwafa.com Fs. Wimisow|. 6 oat Campany Oveven + Franca ‘STOCK INFORMATION ay 665.00 as800 za ANALYST PRESENTATIONS corant pests Peseta
Slide 3: • • •
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Slide 4: Overview of macroeconomic environment in AWB's countries of presence
Overview of macroeconomic environment in AWB’'s countries of presence
Slide 5: Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 5
Slide 6: Macroeconomic environment in Morocco: outlook and main indicators per sector
HBMacroeconomic environment in Morocco : Outlook and main indicators per sector 2023 vs 2022 2024 vs 2023 Ql 2025 vs O1 2024 > HUH 43.1% 43.2%! 48% AN, 14.5% Agriculture Agri-food Exports Agriculture GDP 41.4% Phosphate and derivatives Phosphates exports -38.0% +10.1% +51.4%! Natural and chemical fe
Slide 7: Dec-19 Dec-20 Dec-21
# Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 June-24 Dec-24 June-25 Dec-25 Dec-26 7
Slide 8: BAM.MIN INDEX BAM.MAX INDEX USD/MAD
11,22 BAM.MIN INDEX 10,93 BAM.MAX INDEX 10,74 USD/MAD 10,64 10,51 10,44 10,55 10,48 10,46 10,31 10,21 10,01 9,94 9,92 9,88 9,89 9,57 8
Slide 9: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 9
Slide 10: 7,5 6,5 5,5 4,5 3,5 2,5 1,5 0,5 2010 2011 12 2013 2014 2015
7,5 7 6,5 6 5,5 5 4,5 4 3,5 3 2,5 2 1,5 1 0,5 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 10
Slide 11: May-23 Dec-23 June-24
2018 2019 2020 2021 2022 May-23 Dec-23 June-24 Dec-24 Mar-25 June-25
Slide 12: June June June
Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 2013 2021 2022 2023 2024 June June 2024 2025 2013 2021 2022 2023 2024 June June Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun
Slide 13: June June June
2013 2021 2022 2023 2024 June June 2024 2025 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 2013 2021 2022 2023 2024 June June Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun
Slide 14: June June June
Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 2013 2021 2022 2023 2024 June June 2024 2025 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec
Slide 15: 2023 Jun-24 2024 Jun-25 Jul-25 Jun-24 Jun-25
2021 2022 2023 Jun-24 2024 Jun-25 Jul-25 2015 2023 2024 Jun-24 Jun-25 Jul-24 Jul-25 2015 2023 2024 Jun-24Jun-25 Jul-24 Jul-25 2021 2022 2023 Jun-24 2024 Jun-25 Jul-25 2015 2023 2024 Jun-24 Jun-25 Jul-24 Jul-25 2015 2023 2024 Jun-24Jun-25 Jul-24 Jul-25 15
Slide 16: Jun-25 Jun-25 3M 2025
2022 2023 2024 2025 2022 2023 2024 2025 2021 2022 2023 2024 2025 2022 2023 2024 Jun-25 2022 2023 2024 2025 2021 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 Jun-25 2022 2023 2024 2025 2021 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 3M 2025 2022 2023 2024 2025 2021 2022 2023 202
Slide 17: • • • • • • • • • • • • • •
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Slide 18: IFRS consolidated financial statements as of June 30th, 2025
IFRS consolidated financial statements as of June 30t, 2025
Slide 19: H1 2025 key figures
H1] 2025 key figures (oor taking Income MAD 17.7 wo leall 4% (+6%) MAD 11.4 bn dal 4% (47%!) Gross Operating Income Net Income Group MAD 5.9 bn Share 2 all -20% (+23%") Cost of risk (%) 0.62% li; -0.4 pt ‘Cost income ratio 55.5% [lis -0.2 pt “poltielew au ae \Peae, «lpt fr yy MAD 737.4 bn hoa Assets
Slide 20: H1 2025 consolidated P&L
H1 2025 consolidated P&L Growth at constant (in MAD million) H1 2024 H1 2025 Growth Rate exchange rates Net banking income 17,023 17,696 +4.0% +6.4% Net interest income 9,882 10,379 +5.0% +8.2% Net fee income 3,260 3,472 +6.5% +9.0% Income from market activities 3,073 3,015 -1.9% -1.1% Others -290 -
Slide 21: H1 2025 key financial indicators
H1 2025 key financial indicators Net interest margin (bps)! Net interest margin/Total assets (bps) Cost income ratio NPL ratio Cost of risk Leverage? RoaA® RoaE* RoaTE® H1 2019 457 274 46.8% 6.78% 0.54% 10.3x 1.34% 13.72% 19.49% H1 2024 497 285 35.5% 6.98% 1.03% 10.4x 1.71% 17.27% 22.82% H1 2025 497
Slide 22: H1 2025 key financial indicators by business line
H1] 2025 key financial indicators by business line nm NBI Contrib to aall (in MAD bn) NBI BMET on >) “ — 5.7 »\ IRB oh LED 32% | -1.A% (+1.3%! 5 ai) ee ~ sy SES 1.5 +5.1% 9% —_ sm 1.1 Insurance ILI% oe +4.0% ete 77 la as] Note: BMET: Banking in Morocco, Europe and Offshore | IRB: International Retai
Slide 23: H1 H1 H1 H1 H1 H1
H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 23 23
Slide 24: H1 H1 H1 H1 H1 H1
H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 24 24
Slide 25: H1 H1 H1 H1 H1 H1
H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 25 25
Slide 26: H1 23 H1 23 H1 24
2018 2019 2020 2021 2022 May-23 Dec-23 June-24 Dec-24 Mar-25 June-25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 26 26
Slide 27: 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 27 27
Slide 28: H1 H1 H1 H1 H1 H1 H1 H1
H1 19 H1 23 H1 24 H1 25 H1 19 H1 23 H1 24 H1 25 H1 19 H1 23 H1 24 H1 25 H1 19 H1 23 H1 24 H1 25 H1 19 H1 23 H1 24 H1 25 28 28
Slide 29: Attijariwafa Ventures: Leveraging our unique footprint and connecting ecosystems
Attijariwafa Ventures: Leveraging our unique footprint and connecting ecosystems PENT ORES KEY HIGHLIGHTS AW Ventures update Y Established in 2023 as the strategic corporate venture capital (CVC) fund of Attijariwafa Bank Group and Wafa Assurance, with a capital of 30m$ and an international mandate
Slide 30: - 8 bps
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 - 8 bps 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 30 3
Slide 31: June 23 June 24 June 25
June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 31 31
Slide 32: June 23 June 24 June 25
June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 June 23 June 24 June 25 32 32
Slide 33: June 24 June 25 June 24
June 24 June 25 June 24 June 25 June 24 June 25 June 24 June 25 June 24 June 25 June 24 June 25 June 24 June 25 June 24 June 25 June 24 June 25 33 33
Slide 34: H1 H1 H1 H1 H1 H1
H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 H1 23 H1 24 H1 25 34 34
Slide 35: H1 H1 H1 H1 H1
H1 19 H1 22 H1 23 H1 24 H1 25 H1 19 H1 22 H1 23 H1 24 H1 25 H1 19 H1 22 H1 23 H1 24 H1 25 H1 19 H1 22 H1 23 H1 24 H1 25 H1 19 H1 22 H1 23 H1 24 H1 25 35
Slide 36: 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 24 H1 25 2013 2014 20
Slide 37: Capital Adequacy and Liquidity Ratios
Capital Adequacy and Liquidity Ratios
Slide 38: Dec 31, 2018 Dec 31, 2019 Dec 31, 2020
Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 June 30, 2021 Dec 31, 2021 June 30, 2022 Dec 31, 2022 June 30,2023 Dec 31, 2023 June 30, 2024 Dec 31,2024 June 30,2025 Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 June 30, 2021 Dec 31, 2021 June 30, 2022 Dec 31, 2022 June 30,2023 Dec 31,2023 June 30,2024 Dec 31,2024
Slide 39: 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2014 2015
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 39 39
Slide 40: A solid, resilient and diversified business model (1/2)
A solid, resilient and diversified business model (1/2) y Main indicators H1 2025 Change between Change between figures H1 25-H1 24 H1 25-H1 19 SSS OI I 9 Net banking income (MAD bn) 77 +4% 48%? and resilient margins NIM (%)* 4.97% - +40 bps RoaA 1.89% +18 bps +55 bps 18.74% 147 b 502 b Profitabilit
Slide 41: A solid, resilient and diversified business model (2/2)
A solid, resilient and diversified business model (2/2) Sound liquidity and capital position Forecast as dec-2025 HB Bank in Morocco HI 2025 figures LCR Tier 1 Buffer above Tier 1 min 144% (+44 pts over minimum) 14.7% +570 bps On a consolidated basis HI 2025 figures LCR Tier 1 Buffer above Tier 1 mi
Slide 42: Back up
Back up
Slide 43: 5 mois 2024 5 mois 2025 5 mois 2024
2013 2023 2024 5 mois 2024 5 mois 2025 2013 2023 2024 5 mois 2024 5 mois 2025 2013 2023 2024 5 mois 2024 5 mois 2025 2013 2023 2024 2013 2023 2024 2013 2023 2024 2013 2023 2024 5 mois 2024 5 mois 2025 43
Slide 44: Main drivers of loan growth between 2024-2030
Main drivers of loan growth between 2024-2030 Internal analysis African & World Cup organization 2025-2030 Energy transition & water stress management Infrastructure development Reconstruction of earthquake-stricken areas of AL HOUAZ Industrial projects Tourism | Total investment of >>> MAD 900 - 1,
Slide 45: Sector average vs AWB rating
2018 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022 2023 2024 « » 2018 2019 2020 2021 2022 2023 2024 Sector average AWB rating 45 45
Slide 46: Moroccan banking sector: New loan yields
HB Moroccan banking sector : New loan yields (in %) New loans yields Loans for individuals Consumer loans Corporate loans SMEs & VSEs Large corporate 2022 4.33 5.36 6.40 4.09 491 3.88 2023 5.25 5.86 7.16 5.21 5.68 5.03 Change in bps +92 +51 +76 +111 +76 +115 H1 2023 5.15 5.78 7.1 5.15 5.65 4.90 H1 2
Slide 47: Average 2014-2021 2024F
Average 2014-2021 2022 2023 2024F ∆ ∆ ∆ 47