Attijariwafa bank : H1 2021 press release

RESULTS at 30 June 2021

Strong commitment to support clients and promote economic recovery

Attijariwafa bank's Board of Directors, chaired by Mr Mohamed El Kettani, met on 21 September 2021, in order to review the activity and approve the financial statements as of 30 June 2021

Key measures deployed to support the economy

since the beginning of the crisis

• 9,251 young entrepreneurs funded
• 39%1 of total «INTELAKA» loans granted by the sector
• 33%1 of total «DAMANE OXYGENE»

loans granted by the sector

• 30%1 of total «DAMANE RELANCE»
  loans granted by the sector

N° 1 savings institution	N° 1 provider of financing to the economy
Total savings *	Total consolidated loans
(billion MAD)		(billion MAD)
343.6	532.9	330.2	342.0
+7.3%			+3.6 %
June 20	June 21	June 20	June 21
1st player in digital banking and electronic payements in Morocco
% of operations**	Number of connections on digital platforms
processed through digital banking	(in millions of connections)
	85.9 %		126.0
		71.5
77.2 %
+8.7 pts			+ 76.1%
June 20	June 21	June 20	June 21

1. Consolidated customer deposits + assets under management + bancassurance assets (**) Operations available on digital channels: eg: transfers, disposals, payment of invoices.

Attijariwafa bank releases its 2021 first half earnings in a context marked by the gradual normalization of the economic environment in various countries of presence.

In 2021, Attijariwafa bank's teams have shown strong commitment in servicing and supporting clients and communities in markets of presence helping them better manage the crisis impacts.

Attijariwafa bank also deployed all possible measures to promote and finance economic recovery and normalization. In Morocco, Attijariwafa bank's teams have been able to provide support to:

• 9,251 young entrepreneurs financing their projects for an amount of MAD 1.9 billion within the "Intelaka" initiative (market share of 39%1),
• MAD 4.7 billion of new mortgage loans in H1 2021 (+79% and +21% compared with H1 2020 and 2019 respectively) financing access to housing and boosting the real estate sector during this challenging period,
• 18,538 SMEs granting them MAD 5.7 billion of "Damane Oxygène" loans (market share of 33%1),
• 17,764 SMEs granting them MAD 13.4

billion of "Damane Relance" loans (market share of 30%1),

• 95,000 self-employed workers (market share of 59%2),
• 5,937 SMEs granting them MAD 3.4 billion of "Damane Express", "Damane Attaysir", and "Damane Istitmar" (market share of 26%).

NET INCOME (GROUP SHARE) UP 109%

Net banking income grew by 0.7% (+1.5% at constant scope and exchange rates) to MAD 12.5billion benefiting from a positive trend in savings and loans, in a context of gradual economic recovery in the various countries of operations. Deposits and loans rose respectively by +7.3%3 to MAD 368.8 billion and +3,6%3 to MAD 342.0 billion on a consolidated basis.

Net banking income growth has been supported by:

• The Bank in Morocco, Europe and Tangier Offshore Banking Zone (+3.5%);
• International Retail Banking (+3.1%);
• Specialized Finance Subsidiaries (+7.4%);

• Insurance: -30.2% as result of the normalization of "automotive" business line claims ratio (after a significant improvement in 2020 related to health measures in Morocco).

Operating income rose +85.6% (+30.1%4) to MAD 5.0 billion thanks to rigorous cost control (-16.5%or +0.9% excl. contribution to the Covid-19 fund in H1 20204) and to the gradual normalization of cost of risk (-37.0%).

Consolidated net income totaled MAD 3.2 billion up +101.1% (+38.1%4). Net income (Group share) rose by +109.3% (+35.8%4)

to MAD 2.6 billion.

ATTIJARIWAFA BANK STRENGTHENS ITS FINANCIAL BASE

In the first eight months of 2021, Attijariwafa bank successfully completed two capital increases (optional conversion of dividends into shares) totaling MAD 2.1 billion (+50 bps of CET1).

The Board of Directors praised all Group teams for their commitment supporting clients and promoting economic recovery.

The Board of Directors

Casablanca, September 21, 2021

1. Market share in volume. Market share in number of loans came to 35% for Intelaka, 37% for Damane Oxygène and 35% for Damane Relance.
2. Market share relative to the banking sector.
3. Change between June 30, 2020, and June 30, 2021.
4. Adjusted for the cost of contribution to the special Covid-19 fund in 2020.

Attijariwafa bank, a limited company with a capital of MAD 2 131 729 870. Head office : 2, boulevard Moulay Youssef, Casablanca. Approved as a credit institution by order of the Minister of Finance and Privatization n° 2269-03 of the 22 December 2003 as amended and supplemented. Trade Register n° 333.