The year 2019 was a good vintage for Attijari bank, which saw its profit jump by 20%.
The bank’s distribution of credit has evolved almost at the pace of the sector average.
The outstanding net loans to customers increased by 274.5 million dinars to 5,714.7 million dinars, thus posting an increase of 5%.
It should be noted that the bank’s jobs have been increasingly oriented over the last two years towards investments with the Central Bank.
Indeed, the amount of the heading “Cash and assets with the BCT, CCP and TGT” has increased from 578 million dinars in 2017 to 1.3 billion dinars in 2018 and 1.6 billion dinars in 2019.
This increase comes from an investment in 2018 of 870 million dinars with the BCT relayed by an increase in the ordinary account with the BCT in 2019 of 790 million dinars.
The growth in the bank’s money market loans by 16% combined with the increase in customer loans by 5% did not prevent the bank from also increasing its securities portfolio by 17% to 1.11 billion dinars.
In the end, the bank’s balance sheet total went up by 8.7%.
At the level of resources, customer deposits increased by 5.9% to 7.16 billion dinars, including a rise in savings accounts by 6.1% and other sums due to customers by 11.2% against an increase in sight deposits of only 3.4%.
The share of sight deposits remains satisfactory at 45.1% against 46.2% in 2018.
Attijari bank displays an apparent credit/deposit ratio almost the best in the sector with only 85.4%.
At the level of the income statement, the bank’s NBI increased by 11% in 2019 to reach 484.2 million dinars, boosted by the consolidation of the interest margin by 24.9% despite the decline in portfolio income by 5.6%.
The bank’s operating expenses amounted to 220 million dinars allowing the bank to generate a result before provisions of 273.6 million dinars, an improvement of 14.1%.
In the end, Attijari bank, closed fiscal year 2019 with a net profit of 174.2 million dinars, i.e. a growth of 20.2% and this, despite an amplification of the corporate tax charge of 22.5 million dinars additional to 76.5 million dinars.