Attijariwafa Bank Sa · CSEMA:ATW
Attijariwafa Bank Sa — H1 2021 Earnings Presentation
64 slides from Attijariwafa Bank Sa's earnings presentation, June 2021
Slide 1: Attijariwafa bank Financial Communication June 2021
Attijariwafa bank June 2021 Financial Communication 2021
Slide 2: Agenda
Agenda Overview of macroeconomic environment in AWB’s countries of presence Liquidity, Capital Adequacy Ratio and Financial Performance Attijariwafa bank share price performance Back up Continued support of customers and communities through Covid-19 crisis 2
Slide 3: Political context: a new government in Morocco after September 2021 elections
Political context: a new government in Morocco after September 2021 elections Context • July 2011: New constitution approved by referendum • November 2011: First legislative elections post new constitution leading to a new government with a Chief of Government from the “Justice and Development” part
Slide 4: Positive trend of Covid-19 new cases and vaccination pace
Positive trend of Covid-19 new cases and vaccination pace 22m (~80%) of population (> 12 years old) Number of Covid-19 new cases (on a daily basis) Evolution of the vaccination campaign New Covid-19 daily cases (7j moving average) Number of people vaccinated (in million) 22m (~80%) of population 12
Slide 5: Macroeconomic environment in Morocco: Outlook and main indicators
Macroeconomic environment in Morocco Outlook and main indicators Average 2016- Main indicators 2019 2020 2021F 2022F 2018 GDP growth (%) 2.7% 2.6% -6.3% 5.3% 3.3% Non agricultural GDP (%) 3.0% 3.3% -5.8% 3.6% 3.8% Agricultural GDP (%) 1.1% -4.3% -8.6% 17.6% -2.0% Domestic consumption 3.5% 3.3% -2.5%
Slide 6: Macroeconomic environment in Morocco: main indicators per sector
Macroeconomic environment in Morocco Outlook and main indicators per sector July 2020 (7M) July 2021 (7M) Economic sector Change vs. 7M 2019 Change vs. 7M 2020 Agricultural sector Agricultural GDP -8.6% +17.6% Cereal production -39% +221% -4.2% +30.3% Phosphates & Derivatives Exports 29 MAD bn 38 MA
Slide 7: Strong recovery of world demand to Morocco
Strong recovery of world demand to Morocco Change Change 2019 2020 July 19 July 20 July 21 (%) 20/19 (%) 21/20 Imports 527.5 440.5 -16.5% 308.8 251.9 300.4 +19.3% Imports excl. Energy 451.2 390.7 -13.4% 263.6 221.2 261.8 +18.4% YoY on a Exports 423.4 356.1 -15.9% 245.9 197.5 223.8 +13.3% monthly bas
Slide 8: Exports: World businesses of Morocco
Exports: Word businesses of Morocco H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 Change CAGR (In MAD bn) 2021/2020 2016-2021 39.7 42.0 42.3 New export-oriented sectors Automotive 29.1 30.2 29.7 +42.8% +7.8% 2016 2017 2018 2019 2020 2021 Aeronautics 4.6 5.1 7.1 8.5 6.9 6.7 -2.8% +8.0% 2016 2017 20
Slide 9: Exchange rates trend in 2020 and 2021
EUR/MAD Exchange rates trend in 2020 and 2021 USD/MAD January 2018 : Implementation of a flexible exchange rate regime with an adjustable horizontal band (+/- 2.5%) within which MAD can fluctuate freely based on the interbank market supply and demand law March 2020: Widening the fluctuation band
Slide 10: Budget deficit of 7% stimulating the economic recovery
Budget deficit of 7% stimulating the economic recovery • +10.4%* of • +20.8%* of • +5.4%* of non-tax investment tax revenues revenues expenses Budget deficit from 2010 to 2022 (in% GDP) -3.6% -4.3% -4.0% -3.9% -4.9% -4.1% -4.6% -5.2% -6.0% -6.6% -7.3% -7.1% Treasury debt (% GDP) -7.6% 50.3% 53.7% 59
Slide 11: Sovereign bonds yield curve trend between Dec 2019 and June 2021
Sovereign bonds yield curve trend between Dec - 2019 Dec 2019 and June 2021 Dec - 2020 June - 2021 2 successive Cuts in key interest rate to 1.50% (25bps in March and 50 bps in June 2020) Mandatory cash reserve at 0% of deposits vs. 2% before 2.99% Dec - 2019 2.69% 2.69% Dec - 2020 2.60% June -
Slide 12: Macroeconomic environment in Morocco: Inflation
Macroeconomic environment in Morocco Outlook and main indicators Inflation (%) 3 2,5 2 1.9 1.9 1.6 1.6 1,5 1.5 1.3 Average 1.1 1 0.9 0.9 0.9 0.8 0.7 0,5 0.4 0.2 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021F 2022F Source: MEF/HCP 12 Attijariwafa bank presentation – H1 2021 Results
Slide 13: Macroeconomic environment in Morocco: unemployment and job creation
Macroeconomic environment in Morocco Outlook and main indicators 215 000 new Unemployment rate (%) Job creation (in million ) jobs in Q2 21 National Urban 279 17.1 215 15.7 15.6 15.1 143 13.3 77 12.5 15 7 10.7 10.5 10.5 9.1 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 -202 -451 Q1 17
Slide 14: Macroeconomic environment in AWB's main countries of presence – economic growth
Macroeconomic environment in AWB’s main countries of presence – Focus on economic growth Real GDP growth (%) 2019 2020 2021F 2022F Egypt 5.6% 3.6% 2.5% 5.7% Tunisia 1.0% -8.8% 3.8% 2.4% Ivory coast 6.2% 2.3% 6.0% 6.5% Senegal 4.4% 0.8% 5.2% 6.0% Cameroon 3.9% -2.8% 3.4% 4.3% IMF, BAD, BEAC, Internal
Slide 15: Monetary policy in AWB's main regions of presence
Monetary policy in AWB’s main regions of presence Main countries of presence Monetary policy after the crisis 2 successive cuts in key interest rate to 1.50% (25bps in March and 50 bps in Morocco June 2020) 150 bps cut of key interest rate to 6.25% ( 100 bps in March and 50 bps in Tunisia Octobe
Slide 16: Inflation rate in AWB's main regions of presence
Inflation rate in AWB’s main regions of presence EGYPT TUNISIE Egypt -3.8 pts +1.6 pt +1.0 pt Tunisie -1.0 pt +0.1 pt +0.5 pt 30 29.5 8 7.3 6.7 5.7 25 5.8 6 6.3 20 5.3 15 14.4 4 9.2 7.0 10 5.4 8.0 2 5 0 0 2017 2018 2019 2020 2021F 2022F 2017 2018 2019 2020 2021F 2022F WAEMU EMCCA WAEMU +2.3 pts -0.2
Slide 17: Moroccan banking sector YoY growth
Moroccan banking sector YoY growth X% YoY growth CAGR X% +/- Deposits (MAD billion) Deposits: YoY growth CAGR 13-17 +6% CAGR 17-19 +3% +5% +5% +3% +5% +7% 6.8% 6.4% 5.9% 7.2% 1 000 1 029 4.4% 925 950 960 5.3% 718 2.7% 2.9% Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Jul-21 2013 2018 2019 2020 J
Slide 18: Moroccan banking sector YoY growth
Moroccan banking sector YoY growth YoY growth X% CAGR X% +/- Retail loans (1) (MAD billion) Retail loans: YoY growth CAGR 13-16 +5% CAGR 16-19 +4% +0.2%% +5% +3% +0.2% +4% 6.7% 4.9% 4.9% 4.4% 263 271 272 269 279 3.8% 207 3.2% 3.8% 0.2% 2013 2018 2019 2020 Jul 20 Jul 21 Dec-14 Dec-15 Dec-16 Dec-17 De
Slide 19: Focus on government backed loans to support VSMEs and Corporates
Focus on government backed loans to support VSMEs and Corporates during the crisis April, 2020 June, 2020 « DAMANE OXYGENE » « DAMANE RELANCE » Working capital loan in order to help VSMEs to Long term loan in order to support companies Purpose finance their expenses (Wages, suppliers) restarting
Slide 20: Agenda
Agenda Overview of macroeconomic environment in AWB’s countries of presence Liquidity, Capital Adequacy Ratio and Financial Performance Attijariwafa bank share price performance Back up Continued support of customers and communities through Covid-19 crisis 20
Slide 21: H1 2021 consolidated P&L
H1 2021 consolidated P&L Growth Rate at a (in MAD million) H1 2020 H1 2021 Growth Rate constant exchange rate Net banking income 12,383 12,469 0.7% 1.7% Net interest income 7,876 8,019 1.8% 2.9% Net fee income 2,227 2,546 14.3% 15.4% Income from market activities 1,833 2,017 10.0% 10.6% Others 448 -
Slide 22: H1 2021 key financial indicators
H1 2021 key financial indicators H1 2019 H1 2020 H1 2021 Net interest margin* (bps) 457 477 469 53.9% Cost income ratio 46.8% 44.7% 44.6%** NPL ratio 6.8% 7.5% 7.4% Cost of risk 0.54% 1.70% 1.03% 0.57% RoA 1.32% 1.10% 0.83%** 6.0% RoE 14.6% 12.1% 8.8%** Leverage 10.3x 10.2x 10.4x (*) Net interest in
Slide 23: NBI by business line
NBI by business line X% +/- BMET Specialized Financial Companies MAD billion -0.1% +3.5% -0.3% +7.4% +1.7% at a constant 6.2 6.2 6.4 NBI exchange rate 1.3 1.3 1.4 +5.1% +0.7% 11.8 12.4 12.5 H1 19 H1 20 H1 21 H1 19 H1 20 H1 21 +6.0% at a constant exchange rate International Retail Banking Insurance H
Slide 24: Net Interest Income by business line
Net Interest Income by business line X% +/- MAD billion BMET Specialized Financial Companies +5.1% +3.0% +4.4% +4.8% +2.9% at a constant 3.9 4.1 4.2 exchange rate Net interest income 0.6 0.6 0.6 +8.6% +1.8% 7.9 8.0 7.3 H1 19 H1 20 H1 21 H1 19 H1 20 H1 21 3.6% 3.8% 3.7% 3.8% 3.7% 3.8% International R
Slide 25: Net interest margin by business line between 2012 and H1 2021
Net interest margin by business line between 2012 and H1 2021 xx% Contribution to net customer loans (end of period) 72% 71% 70% 66% 66% 65% 67% 67% 66% 66% 67% 3.6% 3.7% 3.7% 4.0% 3.8% 3.8% 3.6% 3.7% 3.7% 3.8% 3.7% BMET 2012 2013 2014 2015 2016 2017 2018 2019 2020 H1 20 H1 21 Net interest margin/ c
Slide 26: Cost of funding evolution – Focus on Morocco
Cost of funding evolution – Focus on Morocco Deposits structure (% of non bearing interest deposits) Cost of funding: +12 points +11 points + 3 points between 2013 65,8% 69,2% 67,8% 70,9% and H1 2021 of 58,7% 59,1% free interest deposits Cost of funding Cost of funding: -92 points -80 bps between 20
Slide 27: Deposits by business line
Deposits by business line X% +/- MAD billion BMET Specialized Financial Companies -0.2% +7.7% +12.5% +2.8% 241 240 259 +8.6% at a constant exchange rate Deposits 5 6 6 +3.5% +7.3% June-19 June-20 June-21 June-19 June-20 June-21 344 369 332 +10.8% at a constant exchange rate International Retail Bank
Slide 28: Fees by business line
Fees by business line X% +/- MAD billion BMET Specialized Financial Companies +15.4% at a -6,6% ¨+16,8% -7.9% +9.9% constant exchange rate 1.44 Net fee income 1.32 1.23 -9.4% +14.3% 2.55 0.48 0.45 0.49 2.46 2.23 H1 19 H1 20 H1 21 H1 19 H1 20 H1 21 International Retail Banking +13.1% at a constant ex
Slide 29: Fee income: main drivers – acquisition and equipment of retail customers
Fee income: main drivers – The bank in Morocco Acquisition and equipment of retail customers Customer March-May 2020 2021 average: 98 average: 71 acquisition 84 77 100 101 126 75 75 64 99 87 74 89 89 91 107 112 81 93 106 2019 monthly customer acquisition rebased on 100 Customer* March-May 2020 2021
Slide 30: Fee income: main drivers – Loans distribution
Fee income: main drivers – The bank in Morocco Loans distribution 2021 average: 102 Consumer* loans March-May 2020 average: 41 89 86 100 103 90 80 28 16 53 72 56 114 83 109 94 100 95 97 117 2019 monthly loans volume rebased on 100 2021 average: 121 Mortgage loans March-May 2020 average: 36 129 122 1
Slide 31: A rigorous cost control based on an ambitious saving plan
X% +/- A rigorous cost control based on an +/- excluding the ambitious saving plan…. x% contribution to MAD million COVID-19 special fund in 2020 BMET Specialized Financial Companies Cost-Income ratio on a consolidated basis: -2.1pts between H1 19 and H1 21 -5.0% -1.7% +0.1% +5.8% Cost-Income ratio
Slide 32: Leveraging on digital transformation
…and leveraging on digital transformation Active digital clients (% of total clients) 33% 39% 43% 27% ~43% of active digital customers 2018 2019 2020 H1-21 # of connections (million ; on a monthly basis) +69% ** 6 +50% 8 +59% 13 18 More than 18 millions connections per month in H1-2021 (+69%) 20
Slide 33: Customer Loans
Growth of customer loans and NPL ratio by business line X% +/- Xx% Contribution to net customer loans (end of period) + + = Specialized Financial International Retail BMET AWB (Consolidated loans) Companies Banking (MAD bn) 67% 10% 22% 100% +2.1% +5.7% 330.2 342.0 +8.6% +2.1% +7.0% -0.4% 317.6 Custo
Slide 34: Customer Loans: Focus on IRB
Growth of customer loans and NPL ratio by X% business line: Focus on IRB* +/- + + = International Retail North Africa(1) WAEMU(2) EMCCA(3) (MAD bn) Banking 71.1 76.0 75.7 +16.2% -0.4% +2.9% +3.1% -7.9% -11.5% Customer Loans +5.3%* +7.0% -0.4% +6.0%* +3.7%* 35.6 35.5 31.4 -9.0%* 30.7 29.6 30.4 10.8 1
Slide 35: Evolution of Cost of Risk by business line
Evolution of Cost of Risk by business line X% +/- X% CoR (%) MAD million BMET Specialized Financial Companies NA -17.4% NA -72.9% 1,392 1,149 Cost of Risk 766 453 110 208 NA -37.0% 3,021 H1 19 H1 20 H1 21 H1 19 H1 20 H1 21 1,904 0.40% 1.21% 0.94% 0.67% 4.21% 1.10% 914 International Retail Banking In
Slide 36: Cost of risk by business line between 2012 and H1 2021
Cost of risk by business line between 2012 and H1 2021 xx% Contribution to net customer loans (end of period) 71% 71% 70% 69% 66% 66% 64% 66% 65% 65% 66% 67% 1.15% 1.10%1.21% 0.94% +28 bps BMET 0.86% 0.76%0.76%0.67% 0.38% 0.35%0.32% Average 12-19: 0.66% 2012 2013 2014 2015 2016 2017 2018 2019 2020 H
Slide 37: IFRS consolidated financial statements NPLs and cost of risk
IFRS consolidated financial statements NPLs and cost of risk NPL ratio Cost of risk (in bps) 170 151 7.8% 7.5% 7.5% 6.8% 7.1% 7.0% 7.0% 6.8% 6.6% 113 103 83 70 72 50 53 46 2014 2015 2016 2017 2018 2019 2020 H1 20 H1 21 Average 2014 2015 2016 2017 2018 2019 2020 H1 20 H1 21 2007-2013 37 Attijariwafa
Slide 38: NIGS by business line
NIGS by business line X% +/- MAD million BMET Specialized Financial Companies x% RoA +1.10% +0.72%* +0.87% +2.12% NA +1.82% Net income group share -68.0% +164.0% +25.2%* -93.0% NA +1.32% +0.83%* +1.10% 1,779 1,503 569 301 272 2,935 21 2,613 -57.5% +109.3% H1 19 H1 20 H1 21 H1 19 H1 20 H1 21 +35.8%*
Slide 39: RoA by business line between 2012 and H1 2021
RoA by business line between 2012 and H1 2021 xx% Contribution to total assets (end of period) 68% 67% 66% 64% 62% 61% 62% 60% 61% 61% 60% 1.1% 0.9% 1.0% 1.0% 1.0% 1.0% 1.1% 1.1% BMET ** 0.7%** 0.9% 0.6% 2012 2013 2014 2015 2016 2017 2018 2019* 2020 H1 20 H1 21 18% 20% 20% 22% 22% 24% 23% 24% 24% 24
Slide 40: RoA below normative level due to a still non-normative CoR
RoA below normative level due to a still non-normative CoR Net banking income / Total assets -15bps 4.5% 4.4%* 4.3% Gross Operating Income / Total assets +1bp 2.4% 2.5%* 2.4% H1 2019 H1 2020 H1 2021 RoA -21bps Expenses / Total assets H1 2019 H1 2020 H1 2021 -16bps 1.3% 2.1% 2.0%* 1.1% 1.9% 0.8%* H1
Slide 41: Solid liquidity position
Solid liquidity position Liquid and free assets (HQLA) in MAD billion Bank in Morocco 67 57 43 43 35 Dec 31, 2018 Dec 31, 2019 March 31, 2020 Dec 31, 2020 June 30, 2021 104% 127% 115% 202% 175% Consolidated basis 95 106 70 72 71 Dec 31, 2018 Dec 31, 2019 March 31, 2020 Dec 31, 2020 June 30, 2021 133
Slide 42: Solid capital position
Solid capital position Capital Adequacy ratio Tier 1 CAR Consolidated basis 13.3% 13.0% 13.1% 13.4% 13.7% Minimum 12.6% 12.5% 12.3% requirements*: 12% 10.1% 10.1% 10.8% 10.2% 10.3% 10.7% 11.0% (11.5% during the 9.7% crisis ) Minimum requirements* Capital adequacy Tier 1 : 9% (8.5% during the crisis)
Slide 43: Agenda
Agenda Overview of macroeconomic environment in AWB’s countries of presence Liquidity, Capital Adequacy Ratio and Financial Performance Attijariwafa bank share price performance Back up Continued support of customers and communities through Covid-19 crisis 43 Attijariwafa bank presentation – H1 2021
Slide 44: Attijariwafa bank share price performance
Attijariwafa bank share price performance Share price performance 3 months 6 months 12 months Attijariwaf bank 5.4% 17.6% 35.6% Masi 4.5% 14.9% 29.5% 29th Sept, 2020 29th Sept, 2021 Market capitalization 74.2 MAD bn 106.3 MAD bn (11.7 USD bn) 44 Attijariwafa bank presentation – H1 2021 Results
Slide 45: A solid, resilient and diversified business model (1/2)
A solid, resilient and diversified business model (1/2) Main indicators Net banking income +3%*per year between H1 19 and H1 21 Satisfactory growth of the top line and resilient margins NIM (%)** +12 bps between H1 19 and H1 21 Fees (%) +15% between H1 19 and H1 21 Strong operating performance &
Slide 46: A solid, resilient and diversified business model (2/2)
A solid, resilient and diversified business model (2/2) Main indicators Bank in Morocco LCR 175% CAR 16.3% Tier1 12.8% Sound liquidity and capital position On a consolidated basis LCR 185% CAR 13.7% Tier1 11.0% Share price AWB +36% YoY Share price Masi +29% YoY 46 Attijariwafa bank presentation
Slide 47: Agenda
Agenda Overview of macroeconomic environment in AWB’s countries of presence Liquidity, Capital Adequacy Ratio and Financial Performance Attijariwafa bank share price performance Back up Continued support of customers and communities through Covid-19 crisis 47 Attijariwafa bank presentation – H1 2021
Slide 48: Macroeconomic environment in Morocco: YoY GDP growth
Macroeconomic environment in Morocco x% YoY growth Outlook and main indicators YoY GDP growth 2 quarters of recession +3.1% +2.6% +2.4% +2.4% +0.8% -14.1% -6.7% -5.1% +1.0% +12.6% +7.2% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 YoY Non-agricultural GDP g
Slide 49: Sovereign bonds yield curve trend since 2013
Sovereign bonds yield curve trend since 2013 Key interest rate 52w Sovereign bonds 10y Sovereign bonds 3.25% 5.62% 3.92% 3.00% 2.75% -3.27pts -1.75pt 2.50% -2.37pts 2.25% 3.54% 2.25% 3.29% 2.64% 3.38% 3.44% 2.39% 2.46% 2.62% 2.00% 3.19% 2.38% 2.29% 2.69% 2.38% 2.35% 1.61% 1.50% 1.55% 2013 2014 2015
Slide 50: Loans by business line
Loans by business line X% +/- MAD billion BMET Specialized Financial Companies +2.1% +5.7% +8.6% +2.1% 212 217 229 +4.6% at a constant exchange rate Loans 31 33 34 +4.0% +3.6% June-19 June-20 June-21 June-19 June-20 June-21 318 330 342 3.6% 3.8% 3.7% 3.8% 3.7% 3.8% +3.7% at a constant exchange rate
Slide 51: Income from market activities by business line
Income from market activities by business line X% +/- MAD billion BMET Specialized Financial Companies -9.9% -0.2% NA -43.2% Income from Market 1.54 1.39 1.39 activities -12.0% +10.0% 2.02 2.08 1.83 0.002 0.011 0.006 H1 19 H1 20 H1 21 H1 19 H1 20 H1 21 International Retail Banking Insurance -11.6% +
Slide 52: IFRS 9 Provisioning methodology
IFRS 9 Provisioning methodology Description Probability of Default Stage 1 – Performing 12 months ECL = Loans ECL = EAD X PD 1year X LGD Probability of Default “Point in Time” + Stage 2 – Performing Lifetime ECL loans but with significant Forward looking credit risk deterioration ECL = EAD
Slide 53: Net interest margin by business line between 2012 and H1 2021
Net interest margin by business line between 2012 and H1 2021 xx% Contribution to total assets (end of period) 68% 67% 66% 64% 62% 61% 62% 60% 61% 61% 60% 2.6% 2.5% 2.5% 2.6% 2.6% 2.4% 2.3% 2.4% 2.4% 2.4% 2.4% BMET 2012 2013 2014 2015 2016 2017 2018 2019* 2020 H1 20 H1 21 Net interest margin/ Total
Slide 54: Net fee income by business line between 2012 and H1 2021
Net fee income by business line between 2012 and H1 2021 xx% Contribution to net banking income 55% 54% 56% 54% 53% 50% 50% 51% 49% 49% 51% 24.0%22.8% 22.4% 18.7%18.2% 18.0%20.3%21.0%21.4% 19.9% 16.2% BMET 2012 2013 2014 2015 2016 2017 2018 2019* 2020 H1 20 H1 21 Net fee income/ Net banking income 2
Slide 55: Cost-Income ratio by business line between 2012 and H1 2021
Cost-Income ratio by business line between 2012 and H1 2021 xx% Contribution to net banking income 55% 54% 56% 54% 53% 50% 50% 51% 49% 49% 51% 59.9% ** 43.1% 44.5% 42.0% 46.7% 47.4% 47.1% 47.6% 47.8% 43.7% 41.5% BMET 2012 2013 2014 2015 2016 2017 2018 2019* 2020 H1 20 H1 21 25% 26% 26% 28% 29% 33% 3
Slide 56: An early declaration of a state of health emergency and 3 months lockdown
Key measures taken by the Moroccan government and Central Bank to manage the global Covid-19 pandemic and its socio-economic impacts Executive Summary 1 An early declaration of a state of health emergency and 3 months lockdown period in order to mitigate the pandemic health impacts 2 Several eco
Slide 57: Implementation of a recovery plan
Implementation of a recovery plan Injection of MAD 120bn into the economy (~11% of GDP) MAD 75bn targeting a wide range of economic sectors and business Loans guaranteed by the segments government For all business segments including the business most affected by the crisis: – “DAMANE OXYGENE” to
Slide 58: Prevention and business continuity plan
Prevention and business continuity plan The Group has implemented a series of measures for its COVID-19 prevention plan to ensure business continuity, to reduce the risk of spreading, and to control the risks and impact on its P&L and balance sheet Up to 70% of Health safety Implementation of a ri
Slide 59: Prevention and business continuity plan
Prevention and business continuity plan The Group has implemented a series of measures for its COVID-19 prevention plan to ensure business continuity, to reduce the risk of spreading, and to control the risks and impact on its P&L and balance sheet Financial A liquidity crisis management unit was
Slide 60: Supporting and helping our customers and communities in all countries of operations
Supporting and helping our customers and communities in all countries of operations Attijariwafa bank has introduced a series of measures to help customers and “communities” in various segments and geographic areas of operations to meet the COVID 19 challenges and its unprecedented socioeconomic eff
Slide 61: Key measures taken by the Bank Al Maghrib (BAM) policy and impacts on AWB
Key measures taken by the Bank Al Maghrib (BAM) policy and impacts on AWB Monetarypolicy Monetary 2 successive cuts in key interest rate to 1.50% (25bps in March and 50 bps in June 2020) Mandatory cash reserve at 0% of deposits vs. 2% before Liquidity Main measures implemented by BAM Impacts on
Slide 62: Business continuity and operational resilience
Business continuity and operational resilience 5,548 branches, 100% of the distribution network, remained open ~100% of services maintained in all geographies Up to ~70% of employees of various headquarters working remotely ~30 k PCR test administrated 62 Attijariwafa bank presentation – H1 2021 Res
Slide 63: Continued support for customers and communities
Continued support for customers and communities Financing of 68,700 VSMEs through disbursement of MAD 40 bn new loans in Morocco 30-35% market share for Damane loans (with government guarantee) Financing of 6,500 young entrepreneurs 215,000 customers benefiting from loan moratoria at no additional c
Slide 64: Loan moratoria as of June 2020
Loan moratoria as of 30 June 2020 # cases Deferred outstanding loans Thousands of customers MAD billion Attijariwafa bank 42 14 Wafasalaf 68 5 Wafabail 3 6 Total Morocco 113 25 IRB 102 10 20% of investment, mortgage and Total Group 215,000 customers MAD 35 billion consumer loans (on a consolidated b