Attijariwafa Bank Sa · CSEMA:ATW
Attijariwafa Bank Sa — FY2024 Earnings Presentation
46 slides from Attijariwafa Bank Sa's earnings presentation, 2025
Slide 1: Attijariwafa bank
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Slide 2: Download the presentation
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Slide 3: • • •
• • • 3
Slide 4: Overview of macroeconomic environment in AWB's countries of presence
Overview of macroeconomic environment in AWB’'s countries of presence
Slide 5: Macroeconomic environment in Morocco: Outlook and main indicators
HB Macroeconomic environment in Morocco : Outlook and main indicators Main indicators 2023 2024 2025" YoY GDP growth (%) 3.4 3.0 YB Non-agricultural GDP (%) 3.6 3.8 3.6 Agricultural GDP (%) 14 -5.0 4.] YoY Domestic consumption Growth (%) 39 3.2 3.0 Inflation (annual average %) 6.1 0.9 24 YoY Export
Slide 6: Macroeconomic environment in Morocco: Outlook and main indicators per sector
mi Macroeconomic environment in Morocco : Outlook and main indicators per sector Economic sector 2023 vs 2022 2024 vs 2023 Aeronautic exports att nom aon att Phosphates andiderivatives exports M“, 3AM 418.1% att Tourism Number of tourists att +33.4% +20.0% ttt Tourism receipts +.7% +7.5% Constructio
Slide 7: Dec-19 Dec-20 Dec-21
# Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Dec-26 7
Slide 8: 2013 2023 2024 2013 2023 2024 2013 2023 2024 2013 2023 2024 2013 2023
2013 2023 2024 2013 2023 2024 2013 2023 2024 2013 2023 2024 2013 2023 2024 2013 2023 2024 2013 2023 2024 8
Slide 9: 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 9,57 9
Slide 10: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2025 2026
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 10
Slide 11: 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 11
Slide 12: May-23 Dec-2023 June-24
2018 2019 2020 2021 2022 May-23 Dec-2023 June-24 Sept-24 Dec-2024
Slide 13: Dec-14 Dec-15 Dec-16
2013 2020 2021 2022 2023 2024 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 2013 2020 2021 2022 2023 2024 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 13
Slide 14: Dec-14 Dec-14 Dec-15
2013 2020 2021 2022 2023 2024 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 2013 2020 2021 2022 2023 2024 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 14
Slide 15: Dec-14 Dec-15 Dec-16
Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 2013 2020 2021 2022 2023 2024 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 2013 2020 2021 2022 2023 2024 15
Slide 16: 2020 2021 2015 2020 2021 2015 2015
2020 2021 2022 2023 2024 2015 2022 2023 2024 2020 2021 2022 2023 2024 2015 2022 2023 2024 2015 2022 2023 2024 16
Slide 17: 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 18: 3M 2024 Jan-2025
2022 2023 2024 2025 2021 2022 2023 2024 2022 2023 2024 2025 2022 2023 2024 Jan-2025 2022 2023 2024 2025 2021 2022 2023 2024 2022 2023 2024 2025 2022 2023 2024 2022 2023 2024 2025 2021 2022 2023 2024 2022 2023 2024 2025 2022 2023 3M 2024 2022 2023 2024 2025 2021 2022 2023 2024 2022 2023 2024 2025 202
Slide 19: • • • • • • • • • • • • • •
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 19
Slide 20: IFRS consolidated financial statements as of Dec 31st, 2024
IFRS consolidated financial statements as of Dec 31st, 2024
Slide 21: 2024 key figures
2024 key figures oor santng Income MAD 34.5 bo leall 15% (+14%!) Gross Operating MAD 22.0 bn Income leall 24% (+17%!) Net Income Group MAD 9.5 bn Share 2 [ail +27% (423%!) Cost of risk (%) 0.95% Cost income ratio 56.1% |Its -5 pts Ne MAD 726.5 bn oat Assets lal +10% (413%!) lal «9% MAD 413.6 bn lal
Slide 22: 2024 consolidated P&L
2024 consolidated P&L Growth at constant Crowih at exchange rates and (in MAD million) 2023 2024 Growth Rate constant 9 exchanae rates Exel. non-recurring 3g exceptional item Net banking income 29,943 34,507 415.2% +18.8% 413.9% Net interest income 18,433, 19,721 +7.0% 411.3% 411.3% Net fee income 6
Slide 23: 2024 key financial indicators
2024 key financial indicators 2019 2023 2024 Net interest margin (bps)! 461 A69 A77 Net interest margin/Total assets (bps) 280 280 271 Cost income ratio 47.8% 40.7% 36.1% NPL ratio 6.65% 7.2% 6.6% Cost of risk 0.46% 0.95% 0.95% Leverage? 9.9x 9.9x 10.0x RoaA® 1.33% 1.41% 1.69% RoaE* 13.32% 13.99% 16
Slide 24: 2024 key financial indicators by business line
2024 key financial indicators by business line i BMET IRB SFS Insurance Group NBI (in MAD bn) 17.2 +15.4% 1.4 44.1% (+13.5%"") 3.1 47.3% 3.1 +105.8% +11.1%** 35.5 +15.5% +13.9%** Contrib to NBI > A9% 2 33% y 9% y 9% Cost income ratio 35.7% -4.6 pts 42.6% -0.1 pt 42.0% -2.2 pts N/A 36.1% - 4.6 pts Co
Slide 25: 2022 2023 2024 2022 2023 2024
2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 25 25
Slide 26: 2022 2023 2024 2022 2023 2024
2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 26 26
Slide 27: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 3 2014 2015
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 27 27
Slide 28: 2022 2023 2024 2022 2023 2024
2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 28 28
Slide 29: May-2023 Dec-2023 Jun-2024
2022 May-2023 Dec-2023 Jun-2024 Dec-2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 29 29
Slide 30: 2019 2019 2019 2019
2019 2022 2023 2024 2019 2022 2023 2024 2019 2022 2023 2024 2019 2022 2023 2024 30 30
Slide 31: 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024
2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 31 31
Slide 32: 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024
2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 32 32
Slide 33: +25 bps
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 +25 bps 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 33 33
Slide 34: 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 34 34
Slide 35: 2022 2023 2024 2022 2023 2024
2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 35 35
Slide 36: 2019 2019 2019 2019 2019
2019 2022 2023 2024 2019 2022 2023 2024 2019 2022 2023 2024 2019 2022 2023 2024 2019 2022 2023 2024 36
Slide 37: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 3 2014 2015
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019
Slide 38: Capital Adequacy and Liquidity Ratios
Capital Adequacy and Liquidity Ratios
Slide 39: Dec 31, 2018 Dec 31, 2019 Dec 31, 2020
Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31,2024 Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 Dec 31, 2021 Dec 31, 2022 Dec 31,2023 Dec 31,2024 39 39
Slide 40: 2014 2015 2016 2017 2018 2019 2020 2021 2014 2015 2016 7 2018 2019
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 40 40
Slide 41: A solid, resilient and diversified business model (1/2)
A solid, resilient and diversified business model (1/2) rm) Main indicators 2024 figures Change between Change between 2024-2023 2024-2019 Net banking income (MAD bn) 34.5 413.9%! +8%? NIM (%)* 4.77% +8 bps +16 bps SSF NST NS TS | Non-interest income** (MAD bn) 8.1 +31%! 419%? and resilient margins
Slide 42: A solid, resilient and diversified business model (2/2)
A solid, resilient and diversified business model (2/2) Sound liquidity and capital position HB Bank in Morocco 2024 figures LCR Tier 1 Buffer above Tier 1 min 164% (+64 pts over minimum) 14.0% + 500 bps On a consolidated basis 2024 figures LCR Tier 1 Buffer above Tier 1 min 180% (+80 pts over minim
Slide 43: Back up
Back up
Slide 44: 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 44 44
Slide 45: Moroccan banking sector: New loan yields
i 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 20
Slide 46: Average 2014-2021 2024F
Average 2014-2021 2022 2023 2024F ∆ ∆ ∆ 46