Financial Communication

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Transcription:

Attijariwafa bank As of 31 December2017 Financial Communication 2017

Banking industry Growth and penetration % GDP CAGR Banking Penetration Total Banking Assets / GDP (in %) Total Assets US$ Bn Penetration of Banking market 38 +9% 133 2015 Data (world bank) Wealth GDP / Capita (US$) 2002 June-17 86% 119% Total Customer Deposits US$ Bn Total Customer Loans US$ Bn +8% 90 +9% 81 28 21 2002 2017 2002 2017 63% 81% 48% 73% Exchange rate : 1 US$ = 9.6243 as of 30 June 2017 and 9.3516 MAD as of 31 December 2017 2

Retail Banking at glance % GDP CAGR Mortgage loans US$ Bn Consumer loans(bank and SFC 1 ) US$ Bn +11% +10% 20.8 11.0 5.7 3.7 2005 2017 2005 2017 % GDP 10.2% 18.6% % GDP 6.5% 9.9% Bancassurance Credit and debit cards GWP in US$ million Number of cards in million +12% +18% 794 14.1 225 2.0 2005 2016 2005 2017 (1) SFS : Specialized Financial Compagnies Exchange rate : 1 US$ = 10.0825 as of 31 December 2016 and 9.3516 as of 31 December 2017 Equipment rate ~20% ~60% 3

Retail Banking at glance CAGR Number (in millions of cards) of credit and Debit cards Banking penetration rate* 2.0 34% 3.5 37% 4.3 39% 5.1 43% 6.3 47% 7.0 50% 8.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (*) Total number of accounts / overall population -Source : Bank Al Maghrib (**) as of 30 June 2017 54% 9.3 57% 9.8 60% 10.9 63% 11.8 67% 12.9 69% 14.1 71% ** Number of branches and ATMs Number of branches / million of inhabitant Branches ATMs 10% 7,266 7,025 487 619 10% 371 2,2832,132 181 247 45 2005 2017 Benchmark. 2016 Source: Worldbank 4

Corporate Banking at glance Corporate loans Corporate loans over GDP (%) US $ Bn 35% Egypt CAGR 09-17 : 4% 40 48% Tunisia 53 CAGR 04-08 : 26% 29% 3% 1% -1% 0% 3% 11% 49 51 51 51 51 52 9% 9% 45 41 38 3% 54 Saudi Arabia Malaysia 45 52 CAGR 98-03 : 4% 34% 29 23% 19% 22 18 15 Chile France 40 45 Spain 64 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 28% 31% 35% 44% 51% 52% 55% 58% 56% 54% 53% 49% 48% 48% Italy 40 %GDP Morocco 2006 Morocco 2017 Exchange rate : 1 US$ = 9,3516 MAD as of 31 December 2017 5

Moroccan banking sector Pick up in loans in 2017 AWB market shares in Morocco YoY growth CAGR Deposits(MAD billion) Deposits: YoY growth +/- +5% +4% +5% 769 802 844 25.95% 26.53% 25.47% 26.66% 26.29% 26.18% 26.01% 26.20% 25.95% 26.72% 26.64% 587 2.0% 5.0% 3.2% 3.9% 6.2% 6.5% 6.5% 5.3% 4.3% 4.1% 5.3% 2009 2015 2016 2017 Dec-12 June-13 Dec-13 June-14 Dec-14 June-15 Dec-15 June-16 Dec-16 June-17 Dec-17 Loans(MAD billion) Performing loans: YoY growth +5% +4% +3% 763 791 816 561 27.00% 27.52% 26.79% 27.15% 26.99% 26.50% 25.40% 26.34% 26.47% 26.07% 26.38% 95.6% 99.1% 98.6% 96.7% 5.1% 2.7% 3.1% 3.5% 2.1% 1.3% 2.1% 2.7% 3.6% 5.5% 3.1% 2009 2015 2016 2017 Xx% Loan to deposit ratio Source : GPBM (the Moroccan banking association) Dec-12 June-13 Dec-13 June-14 Dec-14 June-15 Dec-15 June-16 Dec-16 June-17 Dec-17 Averageoutstandinggrowthof the banking sector between 2016 and 2017 : +4.5% CAGR 2012-2016: +2.6% 6

Moroccan banking sector driven by corporate loans AWB market shares in Morocco YoY growth CAGR Retailloans (1) (MAD billion) Retailloans: YoYgrowth +/- +8% +5% +4% 229 240 249 146 24.25% 24.68% 24.23% 24.03% 23.42% 23.31% 23.02% 23.31% 23.44% 23.88% 24.03% 9.7% 7.2% 5.0% 3.5% 6.3% 6.6% 4.5% 4.7% 4.6% 4.2% 3.9% 2009 2015 2016 2017 Dec-12 June-13 Dec-13 June-14 Dec-14 June-15 Dec-15 June-16 Dec-16 June-17 Dec-17 Corporateloans (2) (MAD billion) Corporateloans: YoYgrowth 381 +4% +3% +3% 476 489 503 28.13% 28.74% 27.88% 28.51% 28.64% 28.02% 26.55% 27.85% 27.94% 27.14% 27.54% 3.3% 0.2% 0.7% 2.0% -1.0% -2.5% 0.0% 1.2% 2.8% 6.3% 3.0% 2009 2015 2016 2017 Dec-12 June-13 Dec-13 June-14 Dec-14 June-15 Dec-15 June-16 Dec-16 June-17 Dec-17 (1) Mortgage loans+ consumer loans (2) Loans to financial institutions + equipment and investment loans + property development loans + short-term and treasury loans + other loans Source : GPBM (the Moroccan banking association) Average outstanding growth of the banking sector between 2016 and 2017 : +4.6% CAGR 2012-2016: +0.3% 7

Net Banking Income(US$ Bn) Revenue pool, cost efficiency, risk and profitability indicators(1/2) CAGR 02-04 : 2.0% CAGR 04-09 : 12.2% CAGR 09-16 : 6.1% 1.6 1.7 1.7 2.0 2.2 2.6 2.7 3.0 3.2 3.4 3.7 4.0 4.4 4.3 4.5 2.5 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 June-17 Cost-Income Ratio 49.76% 49.83% 52.07% 50.19% 48.42% 46.49% 48.12% 47.36% 46.36% 47.90% 46.18% 47.72% 46.05% 49.01% 49.11% 48.86% NPL Ratio 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 June-17 19.2% 20.5% 19.6% 14.5% 11.2% 8.6% 6.3% 6.0% 5.0% 4.9% 5.0% 6.0% 6.9% 7.6% 7.9% 7.8% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Exchange rate : 1 US$ = 10.0825 MAD as of 31 December 2016 and 9.6243 MAD as of June 2017 8

Revenue pool, cost efficiency, risk and profitability indicators(2/2) RoE 10.38% 15.00% 17.14% 14.22% 13.43% 12.40% 11.90% 11.07% 10.11% 9.53% 8.49% 10.68% 10.57% 2.45% 5.67% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 June-17 RoA 0.21% 0.79% 0.45% 1.23% 1.37% 1.11% 1.11% 1.13% 1.06% 1.03% 0.90% 0.90% 0.82% 1.04% 0.98% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 June-17 Leverage ratio (Total assets/equity) 11.91 14.17 13.16 12.53 12.19 12.55 12.77 12.06 10.94 11.20 10.73 11.20 10.54 10.41 10.24 10.78 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 June-17 9

Main ongoing evolutions in the Moroccan banking supervision landscape Capital Adequacy Main evolutions Effective dates Consumer s protection New Regulatory framework : - Minimum required : 9% in Tier1 and 12% in solvency ratio Basel II project : - Advanced approach Transition to IRBF for corporate and IRBA for retail clients Compliance with Basel 3 rules regarding regulatory capital and capital adequacy adequacy ratio - Minimum requirements : CET1=8%; CET1+AT1=9%; CAR=12% (instead of core Tier 1=9% and CAR=12% previously) Compliance with Basel 3 rules regarding liquidity (LCR*) with minimum currently at 80% IFRS 9 Ban on charging for 16 elementary banking services(e.g: withdrawal, local fund transfer ) June 2013 IRBF : 2014 IRBA : 2015 June 2014 2015-2019 2018 2011 (*) Liquidity Coverage Ratio ; minimum requirements: 60% in 2015, 70% in 2016, 80% in 2017, 90% in 2018 and 100% in 2019 10

Capital Markets penetration Market Cap / GDP (in %) 160 Financial industry Efficient asset gathering and allocation Market Capitalization (x%) CAGR Penetration of capital markets 140 120 100 80 60 Morocco Spain France 40 Turkey Tunisia Portugal 20 Italy GDP / Greece Capita 0 Egypt (US$) Nigeria - 10000 20000 30000 40000 50000 60000 Wealth 2015 Data. Source : World Bank except for Italy (2014) USA -0.4% -12% 7% 53% 62.7 61.9 62.4 67.0 56.9 54.4 55.2 44.6 47.6 48.2 51.8 48.5 26.9 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total outsanding bonds US$ Bn Treasurybills / bonds Corporate bonds Assets under management Mutual funds - USD Bn 8% 62.1 63.6 57.2 58.8 52.5 15.5 15.0 46.3 16.2 16.6 39.8 17.1 31.5 33.9 15.2 27.8 28.8 29.6 12.3 2.9 3.0 3.8 6.5 8.4 24.9 25.8 25.7 25.1 25.6 27.6 31.2 35.4 41.0 42.3 46.6 48.6 9.2 13.7 14.1 17.3 14% 20.7 24.0 24.5 25.9 26.3 32.1 35.3 38.7 44.5 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Exchange rate : 1 US$ = 10.0825 MAD as of 31 December 2016 and 9,6243 MAD as of 30 June 2017 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 11

A leading financial market in the region Maghreb French-speaking Africa Euromed South US$ Bn; December2017 US$ Bn; December2017 US$ Bn; December2017 Morocco 67.0 Morocco 67.0 Turkey 227.5 Tunisia 8.6 Maurice 9.7 Morocco 67.0 Tunisia 8.7 Egypt 46.5 Ivory Coast 5.8 Jordan 24.0 Exchange rate as of 31 December 2017: 1US$ = 9,3516 (*) Data as of December 2016 12

Insurance sector trends Total premiums US$ million Bancassurance premiums US$ million +11% +12% 794 2,157 1,234 225 2004 June-17 2005 2016 Market Capitalization December 2017 (US$ million) Wafa assurance Atlanta SAHAM ASSURANCE 1,852.6 411.9 680.2 Exchange rate : 1 US$ = 9,6243 MAD as of 30 June 2017 and 9,3516 as of 31 December 2017 13