Attijariwafa Bank, Morocco's largest bank, posted consolidated net income of MAD 11.7 billion for the full year 2024, a rise of 28.9% compared with the prior year, according to full-year financial results approved by its Board of Directors on 24 February 2025. Net income attributable to the group share reached MAD 9.5 billion, up 26.6%, with the group operating in Morocco and more than a dozen other African countries.
Net banking income, the headline revenue measure for Moroccan lenders, grew 15.2% to MAD 34.5 billion, driven by commercial momentum in deposits and loans and a 39.4% rise in market activities revenue. The cost-to-income ratio improved by five percentage points to 36.1%.
LOAN AND DEPOSIT VOLUMES BOTH RISE
In Morocco, customer loans expanded 8% during 2024, while deposits grew 14%, reaching MAD 335 billion; consolidated group loans rose 5.3% to MAD 435.5 billion. In Morocco, its share of interest-free deposits rose by 50 basis points to more than 28%.
The bank's return on average tangible equity rose to 22.5% from 19.2% recorded in 2023. Attijariwafa operates in retail, corporate, insurance, and capital markets segments.
STRATEGIC PLAN
The year 2025 is the final year of the bank's @mbitions 2025 strategic plan, launched in 2021.