Attijariwafa bank confirms its positioning with the launch of a subordinated bond issue of 1.5 billion dirhams. This strategic movement, focused on strengthening equity, international development and digital innovation, reflects the bank’s desire to be a key player in economic and financial transformation in Morocco and Africa.
Attijariwafa bank is continuing its consolidation and development strategy with the launch of a structuring operation. The issuance of subordinated bonds, for a total amount of 1.5 billion dirhams, marks a new stage in strengthening the financial solidity of the bank and its ability to support strategic initiatives.
A major operation
The subordinated bond issuance program has three main objectives. First of all, it is a question of strengthening the bank’s regulatory capital, an essential lever for consolidating its solvency ratio. Then, this operation supports the financing of its organic development, both in Morocco and internationally. Finally, it allows the bank to anticipate local and international regulatory developments in the countries where it is present.
The issue has two main tranches: tranche A, with a fixed rate, offers an attractive yield of 3.53% and tranche B, with an annual adjustable rate, offers an initial rate of 3.23%. With a maturity of seven years and constant linear amortization, this initiative is designed to offer the bank increased financial flexibility while meeting the expectations of investors qualified under Moroccan law.
Ambitious growth prospects
Attijariwafa bank, with its solid financial performance and its positioning as a banking leader, looks to the future with a clear and structured vision. In a context of global economic recovery, the bank is pursuing its ambition to be a key player in the Moroccan and African economies. It plans to increase initiatives to strengthen its presence in African markets while consolidating its position in Morocco. This strategy reflects a detailed understanding of regional dynamics and a long-term commitment to African markets.
Digital transformation an innovation
The digital aspect remains an essential pillar of the bank’s development prospects. By investing in advanced technologies, Attijariwafa bank seeks to improve customer experience, increase the efficiency of its operations and capture new market segments.
Digitalization also makes it possible to meet growing customer expectations for fast, accessible and personalized services. The group aims to be at the forefront of banking innovation in Africa.
In addition, the bank is actively engaged in financing green projects and sustainable initiatives. By aligning its strategies with the Sustainable Development Goals, Attijariwafa bank positions itself as a responsible player, supporting renewable energies and environmentally friendly infrastructure.
Financial capacity building
The issuance of subordinated bonds directly contributes to strengthening the bank’s Tier 2 capital, thereby improving the financial strength of the bank. This increased capacity allows Attijariwafa bank to better meet the needs of its clients while financing strategic projects. It also constitutes an asset to face possible economic turbulence.
With this operation and its ambitious outlook, Attijariwafa bank confirms its resilience and its ability to innovate in a constantly evolving environment. The bank is committed to sustainable growth, aligning its activities with the needs of the markets it serves and the expectations of its stakeholders.
In the years to come, the group intends to strengthen its role as a leading banking player in Africa and beyond, while actively contributing to the economic and social development of the regions where it operates.
This strategic positioning demonstrates Attijariwafa bank’s ambition to be a driver of positive transformation in Morocco and internationally.
Progressing results
During the first nine months of 2024, Attijariwafa bank recorded solid financial performance, consolidating its leading position in the Moroccan and African banking sector. Consolidated net banking income (NBI) reached 25.2 billion dirhams (billion dirhams), up 12.9% compared to the same period of the previous year.
This progression is attributable to strong commercial dynamics, with a notable increase in loans (+7.8%) and deposits (+9.8%) in the 26 countries where the group is present. The consolidated net profit amounted to MAD 8.4 billion, up 22.7%, while the group’s share of net profit reached MAD 7.2 billion, recording growth of 24%.
These results reflect increased cost control, as evidenced by the improvement in the operating ratio, which rose from 40.1% to 36%. Furthermore, the return on assets (RoaA) and the return on tangible equity (RoaTE) increased, respectively, to 1.63% and 22.4%, strengthening the group’s profitability.
Sanae Raqui / ECO Inspirations
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