Attijariwafa bank (ATW) Q2 2024 earnings summary

Executive summary

• Consolidated net banking income increased by 16.6% year-over-year to MAD 17.0 billion in the first half of 2024.

• Growth driven by positive trends in both customer deposits and loans, as well as strong market activities income.

Financial highlights

• Net banking income reached MAD 17.0 billion, up 16.6% from H1 2023, and up 19.5% at constant exchange rates.

• Customer loans rose 8.3% year-over-year to MAD 450.6 billion.

• Customer deposits increased 7.6% year-over-year to MAD 418.9 billion.

Segment performance

• In Morocco, net banking income rose 16.5% year-over-year to MAD 9.7 billion.

• Moroccan customer loans grew 12.1% to MAD 256.2 billion; deposits up 9.3% to MAD 313.3 billion.