Results
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Attijariwafa bank Results at 31 december 2012
1
Financial Communication 2012
Attijariwafa bank as of December 31st, 2012
12
Financial statements
Parent company financial statements at 31 december 2012 1. Presentation Attijariwafa bank is a Moroccan company governed by common law. The financial statements comprise the accounts of head office as well as branches in Morocco and overseas, including the branch offices in Brussels. Material intra-group transactions and balances between Moroccan entities and overseas branches have been eliminated.
2. General principles The financial statements are prepared in accordance with generally accepted accounting principles applicable to credit institutions.
• The bank has written off non-performing loans using provisions set aside for this purpose.
4. Amounts owing to credit institutions and customers Amounts owing to credit institutions and customers are presented in the financial statements according to their initial maturity and type: - Sight and term borrowings in the case of credit institutions; - Current accounts in credit, savings accounts, terms deposits and other customer accounts in credit in the case of customers.
The presentation of Attijariwafa bank’s financial statements complies with the Credit Institution Accounting Plan.
Repo transactions, involving shares or other securities, are recorded under the different loan categories (credit institutions or customers), depending on the counterparty;
3. Loans and signature loans
Interest accrued on these loans is recorded under related borrowings and booked to the income statement.
General presentation of loans • Loans and advances to credit institutions and customers are classified according to their initial maturity and type: - Sight and term loans in the case of credit institutions; - Short-term loans, equipment loans, consumer loans, mortgage loans and other loans for customers. • Signature loans accounted for off-balance sheet relate to transactions which have not yet given rise to cash movements such as irrevocable commitments for the undrawn portion of facilities made available to credit institutions and customers or guarantees given; • Repo transactions, involving shares or other securities, are recorded under the different loan categories (credit institutions or customers); • Interest accrued on these loans is recorded under related loans and booked to the income statement. Non-performing loans on customers • Non-performing loans on customers are recorded and valued in accordance with prevailing banking regulations. The main measures applied are summarised as follows: - Non-performing loans are classified as sub-standard, doubtful or impaired depending on the level of risk; After deducting the guarantee portion as required by prevailing regulations, provisions for non-performing loans are made as follows: - 20% for sub-standard loans; - 50% for doubtful loans; - 100% for impaired loans. Provisions made relating to credit risks are deducted from the asset classes in question. • As soon as loans are classified as non-performing, interest is no longer accrued but is recognised as income when received; • Losses on irrecoverable loans are booked when the possibility of recovering the non-performing loans is deemed to be zero; • Provisions for non-performing loans are written-back on any positive development in respect of the non-performing loans in question, such as partial or full repayment or a restructuring of the debt with partial repayment.
5. Securities portfolio 5.1 General presentation Securities transactions are booked and valued in accordance with the Plan Comptable des Etablissements de Crédit. Securities are classified as a function of their legal characteristics (debt security or equity security) and the purpose for which they are acquired (trading securities, available-for-sale securities, investment securities and investments in affiliates).
5.2 Trading securities Trading securities are securities which are highly liquid and are acquired with the intention of being resold in the very near future. These securities are recorded at cost (including coupon). At the end of each period, the difference between this value and their market value is recognised directly in the income statement.
5.3 Available-for-sale securities Available-for-sale securities are securities acquired with the intention of being held for at least 6 months, except for fixed income securities intended to be held until maturity. AFS securities comprise all securities that do not satisfy the criteria required to be classified in another category. Debt securities are booked excluding accrued interest. The difference between their purchase price and redemption price is amortised over the security’s remaining life. Equities are recorded at cost less acquisition expenses. At the end of each period, a provision for impairment is made for any negative difference between a security’s market value and carrying amount. Unrealised gains are not booked.
5.4. Investment securities Investment securities are debt securities which are acquired, or which come from another category of securities, with the intention of being held until maturity for the purpose of generating regular income over a long period.
These securities are recorded at cost less acquisition expenses. The difference between their purchase price and redemption price is amortised over the security’s remaining life. At the end of each period, these securities are recorded at cost, regardless of their market value. Unrealised profit or loss is therefore not recognised.
8. General provisions These provisions are made, at the discretion of the management, to address future risks which cannot be currently identified or accurately measured relating to the banking activity. Provisions made qualify for a tax write-back.
5.5. Investments in affiliates
9. Intangible assets and property, plant and equipment
This category comprises securities whose long-term ownership is deemed useful to the Bank.
Intangible assets and property, plant and equipment are recorded in the balance sheet at cost less accumulated depreciation and amortisation, calculated using the straight line method over the estimated use life of the assets in question.
At the end of each period, their value is estimated on the basis of generally accepted criteria such as useful value, share of net assets, future outlook for earnings and share price. Only unrealised losses give rise to provisions for impairment on a case-by-case basis.
Intangible assets are categorised as operating or non-operating assets and are amortised over the following periods:
5.6. Repos with physical delivery
Type
Amortisation period
This category comprises securities which are expected to be useful to the bank if held over the long term.
- Lease rights
not amortised
- Patents and brands
N/A
At the end of each period, their value is estimated on the basis of generally accepted criteria such as useful value, share of net assets, future outlook for earnings and share price. Only unrealised losses give rise to provisions for impairment on a case-by-case basis.
- Research and development
N/A
- IT software
6.67 years
- Other items of goodwill
5 years
6. Foreign currency-denominated transactions Foreign currency-denominated loans, amounts owing and signature loans are translated into dirhams at the average exchange rate prevailing on the balance sheet date. Any foreign exchange difference on contributions from overseas branches and on foreign currency-denominated borrowings for hedging exchange rate risk is recorded in the balance sheet under "Other assets” or “Other liabilities” as appropriate. Any translation difference arising on translation of long-term investment securities acquired in a foreign currency is recorded as a translation difference for each category of security in question. Any foreign exchange difference on any other foreign currency account is posted to the income statement. Income and expenses in foreign currency are translated at the exchange rate prevailing on the day they are booked.
7. Translation of financial statements drawn up in foreign currencies The “closing rate” method is used to translate foreign currency-denominated financial statements.
Property, plant and equipment are categorised as operating or nonoperating assets and are depreciated over the following periods: Type
Depreciation period
- Land
not depreciated
- Operating premises
25 years
- Office furniture
6.67 years
- IT hardware
6.67 years
- Vehicles
5 years
- Fixtures, fittings and equipment
6.67 years
10. Deferred expenses Deferred expenses are expenses which, given their size and nature, are likely to relate to more than one period. Deferred expenses are amortised over the following periods: Type
Amortisation period
- Start-up costs
3 years
- Expenses incurred in acquiring fixed assets
5 years
- Bond issuance expenses
N/A
Translation of balance sheet and off-balance sheet items
- Premiums paid on issuing or redeeming debt securities
N/A
All assets, liabilities and off-balance sheet items of foreign entities (Brussels branch offices) are translated at the exchange rate prevailing on the balance sheet date.
- Other deferred expenses
3-5 years on a case by case basis
Shareholders’ equity (excluding net income for the current period) is valued at different historical rates. Any difference arising on restatement (closing rate less historical rate) is recorded in shareholders’ equity under “Translation differences”.
11. Recognition of interest and fees in the income statement
Translation of income statement items All income statement items are translated at the average exchange rate over the year except for depreciation and amortisation expenses, which are translated at the closing rate.
Interest Income and expenses calculated on principal amounts actually lent or borrowed are considered as interest. Income and expenses calculated on a prorata temporis basis which remunerate a risk are considered as similar income or expenses. This category includes fees on guarantee and financing commitments (guarantees, documentary credits etc.). Interest accrued on principal amounts actually lent or borrowed is booked under related loans or debt with an offsetting entry in the income statement entry.
Attijariwafa bank Results at 31 december 2012
3
Similar income or expenses are recorded under income or expenses when invoiced. Fees Income and expenses, calculated on a flat-rate basis for a service provided, are recorded under fees when invoiced.
12. Non-recurring items of income and expenditure They consist exclusively of income and expenses arising on an exceptional basis and are, in principle, rare in that they are unusual in nature or occur infrequently.
12
Financial statements
Parent company financial statements at 31 december 2012
Balance sheet at 31 december 2012
(thousand MAD)
ASSETS Cash and balances with central banks, the Treasury and post office accounts Loans and advances to credit institutions and similar establishments - Sight - Term Loans and advances to customers - Short-term loans and consumer loans - Equipment loans - Mortgage loans - Other loans Receivables acquired through factoring Trading securities and available-for-sale securities - Treasury bills and similar securities - Other debt securities - Fixed Income Funds Other assets Investment securities - Treasury bills and similar securities - Other debt securities Investments in affiliates and other long-term investments Subordinated loans Leased and rented assets Intangible assets Property, plant and equipment
12/31/2012 5 806 876 28 835 051 7 382 447 21 452 604 167 656 801 55 833 656 53 314 599 54 357 429 4 151 117 2 400 812 52 216 361 36 395 703 3 873 126 11 947 532 2 259 048 12 214 528 812 977 1 735 941 2 228 128
12/31/2011 8 883 843 29 439 482 5 726 467 23 713 015 157 605 524 54 250 125 49 681 787 50 256 714 3 416 898 609 141 37 540 273 25 773 986 1 428 155 10 338 132 2 165 642 12 190 156 695 773 1 858 483 2 340 178
Total Assets
276 166 523
253 328 494
LIABILITIES
12/31/2012 46 972 640 5 638 961 41 333 679 171 916 418 102 630 602 22 108 436 40 671 312 6 506 068 9 211 756 9 211 756 11 205 467 1 277 205 10 369 269 420 19 890 529 2 012 431
12/31/2011 35 638 653 7 588 676 28 049 978 165 590 451 99 859 627 20 717 644 38 715 162 6 298 019 10 189 227 10 189 227 9 214 395 880 241 10 370 972 420 16 358 000 1 929 960
691
1 497
Amounts owing to central banks, the Treasury and post office accounts Amounts owing to credit institutions and similar establishments - Sight - Term Customer deposits - Current accounts in credit - Savings accounts - Term deposits - Other accounts in credit Debt securities issued - Negociable debt securities - Bonds - Other debt securities issued Other liabilities General provisions Regulated provisions Subsidies, public funds and special guarantee funds Subordinated debt Revaluation reserve Reserves and premiums related to share capital Share capital Shareholders, unpaid share capital (-) Retained earnings (+/-) Net income to be allocated (+/-) Net income for the financial year (+/-) Total liabilities
3 309 697
3 154 677
276 166 523
253 328 494
Off-balance sheet items at 31 december 2012
(thousand MAD)
OFF-BALANCE
Commitments given Financing commitments given to credit institutions and similar establishments Financing commitments given to customers Guarantees given to credit institutions and similar establishments Guarantees given to customers Securities purchased with repurchase agreement Other securities to be delivered Commitments received Financing commitments received from credit institutions and similar establishments Guarantees received from credit institutions and similar establishments Guarantees received from the State and other organisations providing guarantees Securities sold with repurchase agreement Other securities to be received
12/31/2012 49 140 698 532 14 149 816 6 025 258 28 965 092 16 445 088 16 404 756 40 332 -
Attijariwafa bank Results at 31 december 2012
12/31/2011 47 596 983 1 183 12 176 841 7 360 666 28 058 293 15 157 614 266 628 14 831 908 59 078 -
5
Management accounting statement at 31 december 2012
(thousand MAD)
I - RESULTS ANALYSIS
12/31/2012
12/31/2011
10 721 523 4 306 894 6 414 629 151 931 102 038 49 893 1 252 387 1 252 387 1 016 014 -5 689 269 989 159 225 1 439 539 1 285 179 776 330 9 665 297 -20 886 72 100 3 561 793 6 154 718 -765 007 -384 317 5 005 394 -185 682 1 510 015 3 309 697
9 942 610 3 620 657 6 321 953 146 308 135 418 10 890 1 132 225 1 132 225 694 124 3 469 422 505 170 434 1 290 533 886 480 669 019 8 973 062 -12 765 26 457 1 3 345 908 5 640 845 -937 362 -74 234 4 629 248 -24 734 1 449 837 3 154 677
12/31/2012
12/31/2011
3 309 697 406 890 27 297 337 500 6 412 4 074 972 1 640 466 2 434 506
3 154 677 418 130 18 910 314 400 1 189 298 1 4 955 3 899 676 1 543 968 2 355 708
+ Interest and similar income - Interest and similar expenses NET INTEREST MARGIN + Income from lease-financed fixed assets - Expenses on lease-financed fixed assets NET INCOME FROM LEASING ACTIVITIES + Fees received - Fees paid NET FEE INCOME + Income from trading securities + Income from available-for-sale securities + Income from foreign exchange activities + Income from derivatives activities INCOME FROM MARKET ACTIVITIES + Other banking income - Other banking expenses NET BANKING INCOME + Income from long-term investments + Other non-banking operating income - Other non-banking operating expenses - General operating expenses GROSS OPERATING INCOME + Net provisions for non-performing loans and signature loans + Other net provisions Net Operating INCOME NON Operating INCOME - Income tax NET INCOME FOR THE FINANCIAL YEAR II - TOTAL CASH FLOW + NET INCOME FOR THE FINANCIAL YEAR + Depreciation, amortisation and provisions for fixed asset impairment + Provisions for impairment of long-term investments + General provisions + Regulated provisions + Extraordinary provisions - Reversals of provisions - Capital gains on disposal of fixed assets + Losses on disposal of fixed assets - Capital gains on disposal of long-term investments + Losses on disposal of long-term investments - Write-backs of investment subsidies received + TOTAL CASH FLOW - Profits distributed + SELF-FINANCING
Non-performing customer loans at 31 december 2012 Disbursed loans
dec-12
5 870 411
Signature loans 531 112
(thousand MAD) Amount 6 401 523
Provisions for disbursed loans 4 924 953
Provisions for signature loans 73 239
Sales at 31 december 2012
Amount 4 998 192
(thousand MAD)
2 012
2 011
2 010
15 914 465
14 069 736
13 301 271
Income statement at 31 december 2012 OPERATING INCOME FROM BANKING ACTIVITIES Interest and similar income from transactions with credit institutions Interest and similar income from transactions with customers Interest and similar income from debt securities Income from equity securities Income from lease-financed fixed assets Fee income Other banking income OPERATING EXPENSES ON BANKING ACTIVITIES Interest and similar expenses on transactions with credit institutions Interest and similar expenses on transactions with customers Interest and similar expenses on debt securities issued Expenses on lease-financed fixed assets Other banking expenses NET BANKING INCOME Non-banking operating income Non-banking operating expenses OPERATING EXPENSES Staff costs Taxes other than on income External expenses Other general operating expenses Depreciation, amortisation and provisions PROVISIONS AND LOSSES ON IRRECOVERABLE LOANS Provisions for non-performing loans and signature loans Losses on irrecoverable loans Other provisions PROVISION WRITE-BACKS AND AMOUNTS RECOVERED ON IMPAIRED LOANS Provision write-backs for non-performing loans and signature loans Amounts recovered on impaired loans Other provision write-backs INCOME FROM ORDINARY ACTIVITIES Non-recurring income Non-recurring expenses PRE-TAX INCOME Income tax NET INCOME FOR THE FINANCIAL YEAR
(thousand MAD) 12/31/2012
12/31/2011
15 914 465 1 036 167 9 425 291 260 065 1 272 505 151 931 1 252 387 2 516 119 6 249 168 1 264 630 2 648 203 394 061 102 038 1 840 236 9 665 297 72 100 3 561 793 1 610 608 101 681 1 437 987 4 627 406 890 1 744 661 1 014 095 266 178 464 387 574 451 427 927 87 341 59 183 5 005 394 1 367 187 049 4 819 712 1 510 015 3 309 697
14 069 736 1 112 246 8 432 809 397 555 886 480 146 308 1 132 225 1 962 113 5 096 674 711 245 2 488 750 420 663 135 418 1 340 599 8 973 062 31 413 1 3 345 908 1 540 770 101 056 1 278 854 7 098 418 130 2 223 157 1 058 640 783 859 380 658 1 193 840 831 081 74 056 288 703 4 629 248 297 25 031 4 604 514 1 449 837 3 154 677
Cash flow statement at 31 december 2012 1. (+) Operating income from banking activities 2. (+) Amounts recovered on impaired loans 3. (+) Non-banking operating income 4. (-) Operating expenses on banking activities (*) 5. (-) Non-banking operating expenses 6. (-) General operating expenses 7. (-) Income tax I. NET CASH FLOW FROM INCOME STATEMENT Change in: 8. (±) Loans and advances to credit institutions and similar establishments 9. (±) Loans and advances to customers 10. (±) Trading securities and available-for-sale securities 11. (±) Other assets 12. (±) Lease-financed fixed assets 13. (±) Amounts owing to credit institutions and similar establishments 14. (±) Customer deposits 15. (±) Debt securities issued 16. (±) Other liabilities II. NET CHANGE IN OPERATING ASSETS AND LIABILITIES III. NET CASH FLOW FROM OPERATING ACTIVITIES (I + II) 17. (+) Income from the disposal of long-term investments 18. (+) Income from the disposal of fixed assets 19. (-) Acquisition of long-term investments 20. (-) Acquisition of fixed assets 21. (+) Interest received 22. (+) Dividends received IV. NET CASH FLOW FROM INVESTMENT ACTIVITIES 23. (+) Subsidies, public funds and special guarantee funds 24. (+) Subordinated loan issuance 25. (+) Equity issuance 26. (-) Repayment of shareholders’ equity and equivalent 27. (-) Interest paid 28. (-) Dividends paid V- NET CASH FLOW FROM FINANCING ACTIVITIES VI- NET CHANGE IN CASH AND CASH EQUIVALENTS VII- CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD VIII- CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD
(thousand MAD) 12/31/2012 14 641 960 87 340 73 467 -6 829 065 0 -3 154 903 -1 510 015 3 308 784
12/31/2011 13 183 256 74 056 31 710 -5 750 650 -1 -2 927 778 -1 449 837 3 160 756
604 431
141 137
-11 842 948 -14 676 088 -93 406 -117 204 11 333 987 6 325 967 -977 471 1 991 072 -7 451 660 -4 142 876
-19 411 611 -7 631 731 1 559 467 -145 369 13 716 853 8 542 489 1 854 968 -910 367 -2 284 164 876 592
295 990 -29 906 -469 861 0 1 272 505 1 068 728
174 104 -1 301 275 -467 914 0 886 480 -708 605
2 099 999 -462 352 -1 640 466 -2 819 -3 076 967 8 883 843 5 806 876
1 000 000 -444 675 -1 543 968 -988 643 -820 656 9 704 499 8 883 843
(*) including net provisions
Attijariwafa bank Results at 31 december 2012
7
Statement of departures from standard accounting treatment at 31 december 2012 IMPACT OF DEPARTURES ON THE COMPANY’S FINANCIAL POSITION OR RESULTS Not applicable Not applicable Not applicable
REASONS FOR DEPARTURES
TYPE OF DEPARTURE I. Departures from fundamental accounting principles II. Departures from valuation methods III. Departures from rules for drawing up and presenting the financial statements
Not applicable Not applicable Not applicable
Statement of changes in accounting methods at 31 december 2012 NATURE OF CHANGES
IMPACT OF CHANGES ON THE COMPANY’S FINANCIAL POSITION OR RESULTS not applicable not applicable
REASONS FOR CHANGES
I. Changes in valuation methods II. Changes in rules of presentation
not applicable not applicable
Loans and advances to credit institutions and similar establishments at 31 december 2012 LOANS AND ADVANCES CURRENT ACCOUNTS IN DEBIT NOTES RECEIVED AS SECURITY - overnight - term CASH LOANS - overnight - term FINANCIAL LOANS OTHER LOANS INTEREST ACCRUED AWAITING RECEIPT NON-PERFORMING LOANS
Bank Al Maghrib, the Treasury and post office accounts 3 345 140
TOTAL
3 345 140
(thousand MAD)
Other credit institutions Credit institutions or equivalent in abroad Morocco 1 882 302 5 347 262
Banks
Total 12/31/2012 10 574 704
12 093 036
60 000
10 885 648
250 049
11 195 697
11 356 178
60 000 2 815 647 118 342
10 885 648 7 311 610 5 511
250 049 308
11 195 697 10 127 257 124 161
11 356 178 12 419 244 88 674
147 750
11 527
159 277
163 819
20 232 821
5 609 146
32 181 096
36 120 951
2 993 989
Loans and advances to customers at 31 december 2012 LOANS AND ADVANCES SHORT-TERM LOANS - Current accounts in debit - Commercial loans within Morocco - Export loans - Other cash loans CONSUMER LOANS EQUIPMENT LOANS MORTGAGE LOANS OTHER LOANS RECEIVABLES ACQUIRED THROUGH FACTORING INTEREST ACCRUED AWAITING RECEIPT NON-PERFORMING LOANS - Sub-standard loans - Doubtful loans - Impaired loans TOTAL
Public sector 2 446 562 755 413
(thousand MAD) Private sector Non-financial companies 42 031 748 22 752 958 5 018 581 437 395 13 822 814 568 617 24 790 168 14 214 577 529 889
Financial companies 125 741 125 741
1 691 149 23 654 468 13 077 1 201 259
Other customers 2 424 873 1 856 659
568 214 7 508 689 4 051 109 40 121 679 1 474 250
2 400 812 1 349
1 490 367 335 419
316
64 270 608 374
Total 12/31/2012
LISTED SECURITIES - Treasury bills and similar instruments - Bonds - Other debt securities - Fixed Income Funds UNLISTED SECURITIES - Treasury bills and similar instruments - Bonds - Other debt securities - Fixed Income Funds TOTAL GENERAL
Total 12/31/2011
47 028 924 25 490 771 5 018 581 437 395 16 082 177 8 077 306 52 495 745 54 349 333 3 205 398
46 432 670 20 644 608 5 282 574 535 691 19 969 797 7 165 702 49 213 935 50 254 035 2 422 983
2 400 812
608 335
1 554 637 945 458
1 123 269 993 735
1 349
316
335 419
608 374
945 458
993 735
26 115 456
1 327 316
86 361 597
56 253 244
170 057 613
158 214 664
Breakdown of trading securities, available-for-sale securities and investment securities by category of issuer at 31 december 2012 SECURITIES
Total 12/31/2011
Other credit institutions and similar establishments 1 213 560
TOTAL 12/31/2012
TOTAL 12/31/2011
1 772 720
14 676 225
10 417 464
11 689 945
1 557 373 215 347
2 764 746 11 911 479
138 007 10 279 457
20 991
2 169 544
37 540 136
27 122 809
1 888 819 272 349
25 773 986 1 290 148 58 675 37 540 273
Public issuers
Financial companies
-
11 689 945
1 207 373 6 187 382 562
34 967 039
375 876
34 506 884 460 155
6 686 1 596 122
(thousand MAD)
Private issuers
34 967 039
Non-financial companies
20 991
8 376
36 395 703 1 108 380 36 053
11 710 936
3 942 264
52 216 361
Value of trading securities, available-for-sale securities and investment securities at 31 december 2012 SECURITIES
Gross book value
Current value
46 495 118
46 495 118
31 835 858 1 400 179 1 364 567 11 894 514
31 835 858 1 400 179 1 364 567 11 894 514
5 754 507
5 721 243
4 567 437 1 114 940
4 559 845 1 108 380
72 130
53 018
TRADING SECURITIES - Treasury bills and similar instruments - Bonds - Other debt securities - Fixed Income Funds AVAILABLE-FOR-SALE SECURITIES - Treasury bills and similar instruments - Bonds - Other debt securities - Fixed Income Funds INVESTMENT SECURITIES - Treasury bills and similar instruments - Bonds - Other debt securities
Redemption value
-
-
-
-
-
-
Unrealised capital gains
-
-
(thousand MAD)
Unrealised losses
Provisions
-
-
-
-
-
-
95 350
33 263
33 263
76 162 19 188
7 592 6 560 19 111
7 592 6 560 19 111
-
-
-
-
-
-
-
Details of other assets at 31 december 2012
(thousand MAD)
ASSETS
Amount AT 12/31/2012
Amount AT 12/31/2011
48 040
52 275
OPTIONS PURCHASED Sundry securities transactions (1) SUNDRY DEBTORS Amounts due from the State Amounts due from mutual societies Sundry amounts due from staff Amounts due from customers for non-banking services Other sundry debtors OTHER SUNDRY ASSETS ACCRUALS AND SIMILAR Adjustment accounts for off-balance sheet transactions Translation differences for foreign currencies and securities Income from derivative products and hedging Deferred expenses Inter-company accounts between head office, branch offices and branches in Morocco Accounts receivable and prepaid expenses Other accruals and similar NON-PERFORMING LOANS ON SUNDRY TRANSACTIONS
297 275 175 047
410 287 149 570
437 121 791 2 612 1 795 596 515 768 75
16 438 244 279 37 285 1 559 160 75 403 75
16 159 4 718 1 005 149 253 727 115 525
16 899 3 871 1 165 392 297 520 106 634
TOTAL
2 259 048
2 165 642
(1) PCEC 341, 3463 & 3469 if in debit
Leased and rented assets at 31 december 2012 CATEGORY
LEASED AND RENTED ASSETS
(thousand MAD)
Amount of Gross amount Amount of Gross transfers or at beginning acquisitions amount at withdrawals of FY during FY end of FY during FY
Depreciation
Provisions
Allocation Provision Aggregate Allocation Aggregate during write depreciate in FY provisions FY downs
Net amount at end of FY
1 251 751
142 145
72 460
1 321 436
102 038
508 459
812 977
1 221 431
140 223
68 652
1 293 002
102 038
486 523
806 479
1 221 431
140 223
68 652
1 293 002
102 038
486 523
806 479
Leased intangible assets Equipment leasing - Movable assets under lease - Leased movable assets - Movable assets unleased after cancellation Property leasing - Immovable assets under lease - Immovable leased assets - Immovable assets unleased after cancellation Rents awaiting receipt Restructured rents Rents in arrears Non-performing loans
25 647
25 647
21 936
3 711
25 647
25 647
21 936
3 711
4 673
1 922
3 808
2 787
1 251 751
142 145
72 460
1 321 436
2 787
RENTED ASSETS Rented movable property Rented property Rents awaiting receipt Restructured rents Rents in arrears Non-performing rents
TOTAL
102 038
508 459
Attijariwafa bank Results at 31 december 2012
812 977
9
Subordinated loans at 31 december 2012
(thousand MAD) including affiliates and related companies
Amount LOANS
12/31/2012 Prov. 2
Gross 1
12/31/2011 Net 4
Net 3
Subordinated loans to credit institutions and similar establishments Subordinated loans to customers
12/31/2012 Net 5
12/31/2011 Net 6
Not applicable
TOTAL
Intangible assets and property, plant and equipment at 31 december 2012 Gross value at the Acquisitions beginning of the exercise
TYPE
INTANGIBLE ASSETS
(thousand MAD) Depreciation and/or provisions
Disposals
Gross Net value value at the Amortisation Additional Amortisation Accumula- at the end and provisions ted amortiend of the of the amortisa- on disposed sation and exercise at the beginning tion in 2011 exercise assets of the exercise depreciation
2 549 091
137 921
143 946
2 543 066
690 607
129 962
13 444
303 705
4 117
-
307 822
-
-
-
2 245 386
133 804
143 946
2 235 244
690 607
129 962
13 444
807 125
PROPERTY, PLANT AND EQUIPMENT
5 552 253
331 940
183 481
5 700 712
3 212 076
276 928
16 420
3 472 584
2 228 128
Immovable property used in operations - Land - Office buildings - Staff accommodation Movable property and equipment used in operations - Office property - Office equipment - IT equipment - Vehicles - Other equipment Other property, plant and equipment used in operations Property, plant and equipment not used in operations Land Buildings Movable property and equipment Other property, plant and equipment not used in operations
1 753 014 296 986 1 380 217 75 811
15 656 674 14 982
-
1 768 670 297 660 1 395 199 75 811
617 225 559 823 57 402
55 008 52 531 2 477
-
672 233 612 354 59 879
1 096 437 297 660 782 845 15 932
1 889 723
129 695
181 909
1 837 509
1 599 688
87 703
16 420
1 670 971
166 538
396 534 877 182 607 899 8 108
22 459 69 124 38 033 79
36 864 85 672 59 373 -
382 129 860 634 586 559 8 187
330 215 757 721 503 926 7 826
21 241 35 410 31 034 18
2 544 9 062 4 814 -
348 912 784 069 530 146 7 844
33 217 76 565 56 413 343
1 196 649
117 731
1 314 380
801 947
114 960
-
916 907
397 473
712 867
68 858
1 572
780 153
193 216
19 257
212 473
567 680
222 306 324 306 42 287
6 994 53 624 616
1 572 -
227 728 377 930 42 903
112 276 39 812
12 384 1 833
-
124 660 41 645
227 728 253 270 1 258
123 968
7 624
-
131 592
41 128
5 040
-
46 168
85 424
8 101 344
469 861
327 427
8 243 778
3 902 683
406 890
29 864
4 279 709
3 964 069
- Lease rights - Research and development - Intangible assets used in operations - Non-operating intangible assets
TOTAL
807 125
307 822
Gains and losses on fixed asset transfers or withdrawals at 31 december 2012 Date of transfer or withdrawal
Type OFFICE EQUIPMENT AND FURNITURE
Gross amount
Aggregate depreciation
Net book value
Transfer income
117 918
14 021
103 897
103 897
April-12
OFFICE FURNITURE
21 846
1 725
20 121
OFFICE EQUIPMENT
28 480
5 191
23 290 23 491
April-12
INTERBANK EQUIPMENT
26 205
2 714
April-12
SAFE DEPOSIT
2 869
204
2 665
April-12
IT EQUIPMENT
38 518
4 188
34 330
OFFICE EQUIPMENT AND FURNITURE
63 991
2 399
61 592
sep-12
OFFICE FURNITURE
15 018
819
14 199
sep-12
OFFICE EQUIPMENT
20 177
606
19 571
sep-12
INTERBANK EQUIPMENT
7 941
348
7 593
SAFE DEPOSIT
sept-12
LOGICIEL
TOTAL GENERAL
1 428 119
(thousand MAD)
April-12
sep-12
1 735 941
61 592
20 855
626
20 229
143 945
13 444
130 501
130 501
325 854
29 864
295 990
295 990
Value-added transfers
Loss in value transfers
Investments in affiliates and other long-term investments at 31 december 2012 Name of the issuing company A. Investments in affiliate companies ATTIJARI FINANCES CORPORATE OMNIUM DE GESTION MAROCAIN S.A."OGM" SOMACOVAM WAFA GESTION ATTIJARI INVEST. WAFA BOURSE WAFA PATRIMOINE ATTIJARI OPERATIONS ATTIJARI AFRICA ATTIJARI CIB AFRICA ATTIJARI IT AFRICA ATTIJARIWAFA BANK MIDDLE EAST LIMITED STE MAROCAINE DE GESTION ET TRAITEMENT INFORMATIQUE "SOMGETI" AGENA MAGHREB ATTIJARI CAPITAL DEVELOPEMENT ATTIJARI PROTECTION BCM CORPORATION CASA MADRID DEVELOPPEMENT DINERS CLUB DU MAROC MEDI TRADE AL MIFTAH WAFA COURTAGE WAFA COMMUNICATION WAFA FONCIERE WAFA INVESTISSEMENT WAFA SYSTEMES CONSULTING WAFA SYSTEMES DATA WAFA SYSTEMES FINANCES WAFA TRUST WAFATRADE ATTIJARIA AL AAKARIA AL MAGHRIBIA SOCIETE IMMOBILIERE ATTIJARIA AL YOUSSOUFIA STE IMMOB.BOULEVARD PASTEUR " SIBP" SOCIETE IMMOBILIERE RANOUIL SOCIETE IMMOBILIERE DE L'HIVERNAGE SA SOCIETE IMMOBILIERE MAIMOUNA STE IMMOBILIERE MARRAKECH EXPANSION SOCIETE IMMOBILIERE ZAKAT AYK CAPRI ATTIJARI IMMOBILIER ATTIJARI INTERNATIONAL BANK "AIB" WAFACASH WAFA IMMOBILIER WAFASALAF WAFA LLD WAFABAIL DAR ASSAFAA LITAMWIL ANDALUMAGHREB ANDALUCARTAGE ATTIJARIWAFA EURO FINANCES CAFIN KASOVI COMPAGNIE BANCAIRE DE L'AFRIQUE OCCIDENTALE"CBAO" BANQUE INTERNATIONALE POUR LE MALI "BIM SA" SOCIETE IVOIRIENNE DE BANQUE " SIB " CREDIT DU SENEGAL CREDIT DU CONGO UNION GABONAISE DE BANQUES "UGB GABON" ATTIJARI AFRIQUE PARTICIPATION SOCIETE COMMERCIALE DE BANQUE CAMEROUN WAFACAMBIO WAFABANK OFFSHORE DE TANGER
Sector of activity
INVESTMENT BANKING HOLDING COMPANY ASSET MANAGEMENT ASSET MANAGEMENT SECURITIES BROKERAGE PRIVATE PORTFOLIO MANAGEMENT service company service company service company service company COMPUTER TECHNOLOGY SALE OF IT EQUIPMENT Risk capital Security Holding Company DEVELOPMENT CAPITAL MANAGEMENT OF PAYMENT CARDS TRADING PROPERTY COURTAGE PROPERTY MANAGEMENT INVESTMENT HOLDING COMPANY IT CONSULTING IT IT SOLUTIONS FINANCIAL SERVICES
(thousand MAD)
Share of Gross equity book value held
Share capital
Net book value
Data from the issuing company’s most recent financial statements Year-end
Net assets
Net income
Contribution to current year’s income
11 291 021
11 142 292
-
45 970 179
2 434 067
1 217 820
10 000 885 000
100.00% 100.00%
10 000 2 047 900
10 000 2 047 900
30/06/12 30/09/12
49 442 2 042 891
30 362 521 932
35 000 570 000
5 000 4 900 5 000 20 000 10 000
100.00% 66.00% 100.00% 100.00% 66.00%
30 000 236 369 5 000 40 223 1 700
6 108 236 369 5 000 39 601 1 700
1 000 2 000 2 000 1 000 1 000
100.00% 100.00% 100.00% 100.00% 100.00%
1 000 2 000 2 000 1 000 8 194
1 000 2 000 2 000 1 000 8 194
300
100.00%
100
100
31/12/11
585
-18
-
11 000 10 000 4 000 200 000 10 000 1 500
74.96% 100.00% 83.75% 100.00% 50.00% 100.00%
33 10 000 3 350 200 000 5 000 1 675
10 000 3 350 200 000 4 999 -
31/12/11 31/12/11
-6 692 24 698
-20 2 543
31/12/11 31/12/11 31/12/11
239 165 9 997 1 209
34 709 121 -55
20 000 30 000 -
1 200 100 1 000 3 000 2 000 55 000
20.00% 100.00% 100.00% 86.67% 100.00% 100.00%
240 243 2 397 2 600 3 700 55 046
134 59 2 397 336 2 299 15 010
30/06/12 30/06/12 30/06/12 31/12/11 30/06/12
674 60 6 006 388 2 300
-1 1 667 -85 -60
10 000 -
5 000 1 500 2 000
4 994 1 500 2 066 1 500 9 999
4 994 1 500 2 066 1 500 7 173
31/12/11 31/12/11 31/12/11 30/06/12 30/06/12 31/12/11
5 881 1 717 2 851 1 616 -2 300 7 173
389 21 96 -55 -4 151
-
31/12/11
101 265
40 093
-
30/06/12 30/06/12
49 808 39 601
4 765 -1 542
47 184 -
PROPERTY
1 000 10 000
99.88% 100.00% 100.00% 100.00% 100.00% 100.00%
PROPERTY
50 000
100.00%
51 449
51 449
PROPERTY
300
50.00%
25
25
PROPERTY PROPERTY
3 350 15 000
100.00% 100.00%
11 863 15 531
4 504 1 679
31/12/11
4 504
49
-
PROPERTY PROPERTY
300 300
100.00% 100.00%
5 266 299
3 663 299
31/12/11 31/12/11
3 663 784
-223 7
-
100.00% 100.00% 99.76% 99.99% 100.00% 99.74% 100.00% 50.91% 100.00% 57.83% 100.00% 100.00% 100.00% 100.00% 100.00% 50.00% 4.90%
2 685 100 187 400 71 686 92 442 323 518 164 364 634 783 20 000 86 983 50 510 10 950 1 964 504 295 301 257 508 731 264 35 979
311 137 000 71 686 92 442 323 518 164 364 634 783 20 000 86 983 50 510 10 950 1 964 504 295 301 257 508 731 264 35 979
31/12/11 30/06/12
311 -1 110
19 -3
30/06/12
64 507
1 841
30/06/12 30/06/12 30/06/12 30/06/12 30/06/12
257 290 88 651 1 410 237 25 411 656 596
32 847 33 152 165 394 3 749 63 226
30 313 44 932 58 000 152 727 7 800 28 916 34 508 4 948
BANKING
300 100 124 000 50 000 2 081 KEURO 35 050 50 000 113 180 20 000 150 000 50 000 1 000 KEURO 126 390 KEURO 39 557 KEURO 1 122 000 KFCFA 50 KUSD 11 450 000 KFCFA 5 002 870 KFCFA
51.00%
689 599
689 599
30/06/12
14 451 000
1 499 000
BANKING BANKING BANKING BANKING
10 000 000 KFCFA 5 000 000 KFCFA 7 743 670 KFCFA 10 000 000 KFCFA
51.00% 95.00% 91.00% 58.71%
648 084 292 488 608 734 848 842
648 084 292 488 608 734 848 842
30/06/12
26 430 000
HOLDING BANKING
10 010 KEURO 10 000 000 KFCFA
100.00% 51.00%
113 120 379 110
113 120 379 110
100.00%
963 5 842
963 5 842
PROPERTY PROPERTY PROPERTY PROPERTY BANQUE OFFSHORE MONEY TRANSFERS PROPERTY CONSUMER FINANCE LEASING LEASE-FINANCING HOLDING HOLDING HOLDING HOLDING COMPANY HOLDING COMPANY BANKING
-
Attijariwafa bank Results at 31 december 2012
3 829 20 387 60 470 41 580 17 226
11
Investments in affiliates and other long-term investments at 31 december 2012 Name of the issuing company B - Other Investments NOUVELLES SIDERURGIES INDUSTRIELLES SONASID ATTIJARIWAFA BANK SINCOMAR AGRAM INVEST AM INVESTISSEMENT MOROCCO BOUZNIKA MARINA EUROCHEQUES MAROC FONDS D'INVESTISSEMENT IGRANE IMMOBILIERE INTERBANCAIRE "G.P.B.M." IMPRESSION PRESSE EDITION (IPE) MOUSSAFIR HOTELS SALIMA HOLDING S.E.D. FES SOUK AL MOUHAJIR STE D'AMENAGEMENT DU PARC NOUACER"SAPINO" TANGER FREE ZONE TECHNOLOPARK COMPANY "MITC" WORLD TRADE CENTER MAROCLEAR HAWAZIN INTAJ EXP SERVICES MAROC S.A.
Sector of activity
(thousand MAD)
Share of Gross equity book value held
Share capital
Data from the issuing company’s most recent financial statements
Net book value
495 265 434 893.00
3 415 000
METALS AND MINING METALS AND MINING BANKING
INVESTMENT HOLDING COMPANY PROPERTY DEVELOPMENT PROFESSIONAL BANKER’S ASSOCIATION PUBLISHING HOTEL MANAGEMENT HOLDING COMPANY
2.72%
2 675 170
369 082
95 569
-
28 391 623
10 098 595
300 40 060
47.50% 27.82%
10 938
7 492
-11
16 -
400 000
3.25%
13 000
13 000
-
70 000
18.26%
500 363 12 782
500 364 3 219
-6 559
-
19 005
20.00%
3 801
3 801
-
400 64 342 16 600
400 64 343 16 600
15 050 -
991
991
PROMOTION IMMOBILIÈRE
60 429
22.69%
13 714
13 714
PROMOTION IMMOBILIÈRE PRESTATION DE SERVICE
105 000
25.71%
28 306 8 150
28 306 7 784
20 000 960 576
6.58% 12.50% 12.50%
1 342 704 1 041
1 342 549
20 000
3.00%
600
600
1 400 010
7.14%
157 643 120 017
6.34% 8.06%
80 020 198 741
5.00%
100 000 20 000 10 000 9 670 5 247 894 15 356 4 000 2 583
72 962 20 000 9 556 9 670 5 247 894 15 356 4 000 2 583
98 200
22.40%
22 000
22 000
11 500
16.00%
1 840
1 840
37 450
11.42%
26 934
30/06/12
17 630
31/12/11 31/12/11
299 081 257 807
47 525 3 068
30/06/12
225 678
3 221
31/12/11
215 907
24 686
CURRENT ACCOUNTS IN CREDIT NOTES GIVEN AS SECURITY - overnight - term CASH BORROWINGS - overnight - term FINANCIAL BORROWINGS OTHER DEBTS INTEREST PAYABLE TOTAL
1114650 2 608 48 093 33 722 834
30/06/12
1 021 479
-6 231
30/06/12
150 647
3 239
30/06/12
373 643
27 686
31/12/11
86 364
-1 055
-
48 645 349
2 529 636
1 254 752
Credit institutions overseas
205 030
735 580
3 098 937 2 419 000 679 937
2 996 817 659 156 2 337 661
6 169 862 791 226 5 378 636 82
32 098 3 233 945
5 311 6 910 835
5 886
Total 12/31/2012
Total 12/31/2011
940 813 32 557 483 800 764 31 756 719 13 380 266 3 869 382 9 510 884 2 690 53 979 37 409 46 972 640
5 797 592 19 215 394 400 095 18 815 299 10 510 818 1 054 161 9 456 657 4 597 60 117 50 135 35 638 653
Customer deposits at 31 december 2012 DEPOSITS
13 200
(thousand MAD)
203
3 105 026
3 240 -
1 380
4 278 4 278 638 630 637 343 622 795 621 508 15 835 15 835 12 424 916 12 214 528
Credit institutions and similar establishments in Morocco Bank Al Maghrib, Other credit the Treasury and post Banks institutions and similar office accounts establishments 32 557 483 800 764 31 756 719 1 114 650
4 046
-
Amounts owing to credit institutions and similar establishments at 31 december 2012 AMOUNTS OWING
36 932
92 809
33.34% 13.33% 10.00% 15.25%
H PARTNERS MOROCCAN FINANCIAL BOARD MAROC NUMERIQUE FUND FONCIERE EMERGENCE ALTERMED MAGHREB EUR INTER MUTUELLES ASSISTANCE WAFA IMA ASSISTANCE 3 P FUND BANQUE D'AFFAIRE TUNISIENNE BANKING VISA CENTRE MONETIQUE INTERBANCAIRE ELECTRONIC BANKING MANAGEMENT OF BANK SOCIETE INTERBANK CARDS SMAEX C - Similar investments C/C ASSOCIES AUTRES EMPLOIS ASSIMILEES TOTAL
Net income
92 809
193 000 150 000 10 000 6 500
SECURITIES CUSTODIAN PROPERTY PROPERTY RISK CENTRALISATION SERVICES
Net assets
Year-end
Contribution to current year’s income
(thousand MAD) Public sector
Private sector Non-financial companies 20 237 233
CURRENT ACCOUNTS IN CREDIT SAVINGS ACCOUNTS TERM DEPOSITS OTHER ACCOUNTS IN CREDIT ACCRUED INTEREST PAYABLE
1 333 076
Financial companies 2 466 447
6 525 843 13 760
3 064 100 29 501
12 422 933 5 408 160 998 441
78 577 743 21 944 341 17 839 845 1 054 647 348
TOTAL
7 872 679
5 560 048
39 066 767
119 416 924
Other customers
Total 12/31/2012
Total 12/31/2011
102 614 499 21 944 341 39 852 721 6 506 068 998 789
99 840 613 20 567 962 38 112 544 6 298 019 771 312
171 916 418
165 590 450
Debt securities issued at 31 december 2012
(thousand MAD) Characteristics
SECURITIES CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT CERTIFICATES OF DEPOSIT
Entitlement date 10/06/10 12/28/12 05/03/12 06/04/12 08/27/12 02/09/12 02/27/12 09/16/11 02/11/11 12/28/12 06/01/12 10/21/09 11/22/11 02/28/12 06/26/12 04/09/10 08/13/12 05/03/11 01/17/12 01/20/12 03/21/12 01/27/12 12/16/10 03/21/12 10/13/11 03/21/12
Maturity 10/06/17 03/29/13 05/03/13 06/03/13 08/26/13 02/09/13 02/25/13 09/16/13 02/11/13 12/27/13 06/01/14 10/21/14 11/22/13 02/28/14 06/26/14 04/09/13 08/13/14 05/03/15 01/17/14 01/20/14 03/21/14 01/27/14 12/16/14 03/20/15 10/13/16 03/21/18
Nominal value
Including Interest rate
100 000 400 000 400 000 621 000 200 000 100 000 314 000 100 000 202 100 997 100 540 000 200 000 920 000 415 000 512 500 250 000 200 000 627 000 200 000 592 000 221 000 365 000 100 000 100 000 100 000 240 000
1.20 % 3.65 % 3.90 % 3.90 % 3.95 % 4.05 % 4.05 % 4.08 % 4.10 % 4.20 % 4.23 % 4.30 % 4.30 % 4.30 % 4.30 % 4.31 % 4.33 % 4.35 % 4.35 % 4.35 % 4.35 % 4.36 % 4.37 % 4.50 % 4.56 % 4.90 %
Redemption terms IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE IN FINE
TOTAL
Value
Affiliates
Unamortised value of issue or redemption premiums
Related companies
100 000 400 000 400 000 621 000 200 000 100 000 314 000 100 000 202 100 997 100 540 000 200 000 920 000 415 000 512 500 250 000 200 000 627 000 200 000 592 000 221 000 365 000 100 000 100 000 100 000 240 000
9 016 700
Details of other liabilities at 31 december 2012
(thousand MAD)
LIABILITIES OPTIONS SOLD SUNDRY SECURITIES TRANSACTIONS (1) SUNDRY CREDITORS Amounts due to the State Amounts due to mutual societies Sundry amounts due to staff Sundry amounts due to shareholders and associates Amounts due to suppliers of goods and services Other sundry creditors DEFERRED INCOME AND ACCRUED EXPENSES Adjustment accounts for off-balance sheet transactions Translation differences for foreign currencies and securities Income from derivative products and hedging Inter-company accounts between head office, branch offices and branches in Morocco Accrued expenses and deferred income Other deferred income
12/31/2012 28 498 6 780 572 3 402 078 532 993 64 979 254 981 3 333 2 458 697 87 095 994 319 1 171
31/12//2010 34 525 4 105 650 3 228 780 476 125 60 031 248 741 2 548 2 358 143 83 192 1 845 440 161 197
641 961 351 187
1 101 493 582 750
TOTAL
11 205 467
9 214 395
(1) PCEC 341, 343, 344, 3462 and 3464 if in credit
Provisions at 31 december 2012 PROVISIONS
PROVISIONS, DEDUCTED FROM ASSETS, FOR: Loans and advances to credit institutions and other similar establishments Loans and advances to customers Available-for-sale securities Investments in affiliates and other long-term investments Leased and rented assets Other assets PROVISIONS RECORDED UNDER LIABILITIES Provisions for risks in executing signature loans Provisions for foreign exchange risks General provisions Provisions for pension fund and similar obligations Other provisions Regulated provisions TOTAL
(thousand MAD)
Outstanding 12/31/2011 4 583 437
Additional provisions
Write-backs
Other changes
12/31/2012 5 184 981
1 030 788
429 035
-209
4 333 533 26 052 207 475
993 126 10 364 27 297
401 496 3 154 24 385
-209
16 377 880 241 78 590
458 060 20 970
61 230 26 430
134 109
485 849 93 247 222 555
337 500 52 968 46 622
28 277 6 523
25
4 924 953 33 263 210 388 16 377 1 277 205 73 239 823 349 117 938 262 680
5 463 678
1 488 847
490 265
-75
6 462 186
Subsidies, public funds and special guarantee funds at 31 december 2012 ECONOMIC PURPOSE SUBSIDIES PUBLIC FUNDS SPECIAL GUARANTEE FUNDS
Outstanding
(thousand MAD) TOTAL VALUE
VALUE AT 2011
UTILISATION 12/31/2012
VALUE at end of 2012
Not applicable
TOTAL
Attijariwafa bank Results at 31 december 2012
13
Subordinated debts at 31 december 2012 Currency of issue
Value of loan in currency of issue
MAD MAD MAD MAD MAD MAD MAD MAD MAD MAD MAD MAD MAD TOTAL
Price (1)
(thousand MAD)
Interest rate
Maturity (2)
3.85% 4.10% 4.30% 4.35% 4.35% 4.53% 4.60% 4.76% 4.77% 4.78% 5.00% 5.10% 5.60%
7 YEARS 7 YEARS 10 YEARS 7 YEARS 7 YEARS 10 YEARS 5 YEARS 7 YEARS 7 YEARS 7 YEARS 10 YEARS 10 YEARS 10 YEARS
Terms for early redemption, subordination and convertibility (3)
Including other related businesses Value Value in MADK in MADK 2010 2011
Including related businesses Value of loan in MADK
Value in MADK 2010
Value in MADK 2011
2 000 000 950 000 879 600 476 800 798 300 290 000 1 000 000 50 000 201 700 723 200 710 000 1 000 000 1 120 400 10 200 000
(1) BAM price at 12/31/2012 - (2) Possibly for an unspecified period – (3) Refer to the subordinated debt contract note
Shareholders equity at 31 december 2012 SHAREHOLDERS’ EQUITY
(thousand MAD) Outstanding 12/31/2011 Appropriation of income
Revaluation reserve Reserves and premiums related to share capital Legal reserve Other reserves Issue, merger and transfer premiums Share capital Called-up share capital Uncalled share capital Non-voting preference shares Fund for general banking risks Shareholders’ unpaid share capital Retained earnings (+/-) Net income (loss) awaiting appropriation (+/-) Net income (+/-) TOTAL
420 16 358 000 192 996 10 728 440 5 436 564 1 929 960 1 929 960
Other changes
Outstanding 12/31/2012
-
2 017 528 82 471 82 471
420 19 890 528 192 996 12 243 440 7 454 092 2 012 431 2 012 431
1 497
-789
-17
691
3 154 677 21 444 555
-3 154 677 -1 640 466
2 099 982
3 309 697 25 213 767
1 515 000
2 017 528
1 515 000
Financing and guarantee commitments at 31 december 2012 COMMITMENTS FINANCING COMMITMENTS AND GUARANTEES GIVEN Financing commitments given to credit institutions and similar establishments Import documentary credits Acceptances or commitments to be paid Confirmed credit lines Back-up commitments on securities issuance Irrevocable leasing commitments Other financing commitments given Financing commitments given to customers Import documentary credits Acceptances or commitments to be paid Confirmed credit lines Back-up commitments on securities issuance Irrevocable leasing commitments Other financing commitments given Guarantees given to credit institutions and similar establishments Confirmed export documentary credits Acceptances or commitments to be paid Credit guarantees given Other guarantees and pledges given Non-performing commitments Guarantees given to customers Credit guarantees given Guarantees given to government bodies Other guarantees and pledges given Non-performing commitments FINANCING COMMITMENTS AND GUARANTEES RECEIVED Financing commitments received from credit institutions and similar establishments Confirmed credit lines Back-up commitments on securities issuance Other financing commitments received Guarantees received from credit institutions and similar establishments Credit guarantees received Other guarantees received Guarantees received from the State and other organisations providing guarantees Credit guarantees received Other guarantees received
(thousand MAD) 12/31/2012
12/31/2011
49 671 811 532
48 116 830 1 183
532
1 183
14 149 817 10 770 486 2 411 742
12 176 841 9 142 405 2 937 120
967 589
97 315
6 025 257
7 360 666
6 025 257
7 360 666
29 496 204 605 165 15 788 069 12 571 858 531 112 16 445 087
28 578 140 887 908 14 881 267 12 289 118 519 847 15 157 614 266 628
16 404 755
266 628 14 831 908
16 404 755 40 332 40 332
14 831 908 59 078 59 078
Commitments on securities at 31 december 2012
(thousand MAD) Value
Commitments given Securities purchased with redemption rights Other securities to be provided
Not applicable
Commitments received Securities sold with redemption rights Other securities receivable
Not applicable
Forward foreign exchange transactions and commitments on derivative products at 31 december 2012
(thousand MAD)
Hedging activities 12/31/2012
Other activities
12/31/2011
Forward foreign exchange transactions
58 498 962
66 274 735
Foreign currencies to be received Dirhams to be delivered Foreign currencies to be delivered Dirhams to be received Commitments on derivative products Commitments on regulated fixed income markets Commitments on OTC fixed income markets Commitments on regulated foreign exchange markets Commitments on OTC foreign exchange markets Commitments on regulated markets in other instruments Commitments on OTC markets in other instruments
23 996 081 7 622 343 21 656 040 5 224 498 17 178 568 23 190 12 283 484
27 332 812 8 868 263 24 127 875 5 945 784 19 238 998
53 334 18 407 4 800 153
50 096
12/31/2012
12/31/2011
11 854 364
7 334 538
Securities received and given as guarantee at 31 december 2012 Securities received as guarantee
Net book value
Treasury bills and similar assets Other securities Mortgages Other physical assets
Asset/Off-balance sheet entries in which loans and signature loans pledged are given
Value of loans and signature loans pledged that are hedged
N/D
(thousand MAD)
Securities given as guarantee
Net book value
Treasury bills and similar assets Other securities Mortgages
24 506 241
Other physical assets
TOTAL
909 633
Liability/Off-balance sheet entries in which debts and signature loans pledged are received
Other assets received and pledged
25 415 874
TOTAL
Breakdown of assets and liabilities by residual at 31 december 2012 Less than 1 month
Value of debts and signature loans pledged that are hedged
(thousand MAD) 1-3 months
3 months to 1 year
1-5 years
More than 5 years
TOTAL
ASSETS Loans and advances to credit institutions and similar establishments
17 560 361
6 118 038
3 227 245
1 413 442
356 688
28 675 774
Loans and advances to customers Debt securities Subordinated loans Leased and rented assets
49 305 254 11 894 513
9 685 047 901 463
27 965 275 6 437 420
35 392 727 28 390 601
46 154 673 4 448 746
168 502 976 52 072 743
TOTAL
78 760 128
16 704 548
37 629 940
65 196 770
50 960 107
249 251 493
LIABILITIES Amounts owing to credit institutions and similar establishments Amounts owing to customers
41 826 483
2 862 429
1 382 233
864 085
46 935 230
134 454 920
7 880 975
25 348 889
3 232 845
170 917 629
1 016 100
Debt securities issued Subordinated debt
TOTAL
176 281 403
11 759 504
3 488 100
4 272 500
3 000 000
7 200 000
33 219 222
15 569 430
240 000
9 016 700 10 200 000
240 000
237 069 559
Remarks: - Loans and advances of less than 1 month comprise current accounts for credit institutions and other customers - Amounts owing of less than 1 month comprise amounts owing to credit institutions and other customers
Attijariwafa bank Results at 31 december 2012
15
Breakdown of foreign currency-denominated assets, liabilities and off-balance sheet items at 31 december 2012 12/31/2012
BALANCE SHEET ASSETS Cash and balances with central banks, the Treasury and post office accounts Loans and advances to credit institutions and similar establishments Loans and advances to customers Trading securities and available-for-sale securities Other assets Investments in affiliates and other long-term investments Subordinated loans Leased and rented assets Intangible assets and property, plant and equipment LIABILITIES Amounts owing to central banks, the Treasury and post office accounts Amounts owing to credit institutions and similar establishments Customer deposits Debt securities issued Other liabilities Subsidies, public funds and special guarantee funds Subordinated debt Share capital and reserves Provisions Retained earnings Net income OFF-BALANCE SHEET ITEMS Commitments given Commitments received
(thousand MAD) 12/31/2011
26 005 580 106 712 11 306 470 4 962 987 2 411 326 138 433 7 056 103
28 800 088 90 176 11 753 763 7 361 035 2 369 302 146 237 7 056 104
23 549 14 374 308
23 471 14 943 507
11 603 463 2 523 546
12 703 948 1 924 805
245 032
312 494
7 669 -5 402
7 644 -5 384
36 207 475 22 792 271 13 415 204
37 380 029 24 488 877 12 891 152
Risk concentration with the same counterparty at 31 december 2012
(thousand MAD) TOTAL
NUMBER OF COUNTERPARTIES 8
31 785 273
Net interest margin at 31 december 2012
(thousand MAD) 12/31/2012
12/31/2011
9 425 291 9 205 029 220 262 1 036 167 1 007 151 29 017 260 065 10 721 523 2 648 203 1 264 630 394 061 4 306 894 6 414 629
8 432 809 8 216 294 216 515 1 112 246 1 091 452 20 794 397 555 9 942 610 2 488 750 711 245 420 663 3 620 657 6 321 953
12/31/2012
12/31/2011
243 400 470 579 37 335 63 922 115 601 87 772 233 778
229 253 417 801 48 295 61 187 103 234 94 825 177 630
1 252 387
1 132 225
12/31/2012
12/31/2011
Staff costs Taxes External expenses Other general operating expenses Depreciation, amortisation and provisions on intangible assets and property, plant and equipment
1 610 608 101 681 1 437 987 4 627 406 890
1 540 770 101 056 1 278 854 7 098 418 130
TOTAL
3 561 793
3 345 908
Interest and similar income from activities with customers of which interest and similar income of which fee income on commitments Interest and similar income from activities with credit institutions of which interest and similar income of which fee income on commitments Interest and similar income from debt securities TOTAL INTEREST AND SIMILAR INCOME Interest and similar expenses on activities with customers Interest and similar expenses on activities with credit institutions Interest and similar expenses on debt securities issued TOTAL INTEREST AND SIMILAR EXPENSES NET INTEREST MARGIN
Fee income provided from services at 31 december 2012 FEES Account management Payment services Securities transactions Asset management and custody Credit services Corporate finance Sale of insurance products Other services provided
TOTAL
(thousand MAD)
General operating expenses at 31 december 2012 EXPENSES
(thousand MAD)
Income from market activities at 31 december 2012
(thousand MAD)
INCOME AND EXPENDITURES + Gains on trading securities - Losses on trading securities Income from activities in trading securities + Capital gains on disposal of available-for-sale securities + Write-back of provisions for impairment of available-for-sale securities - Losses on disposal of available-for-sale securities - Provisions for impairment of available-for-sale securities Income from activities in available-for-sale securities + Gains on foreign exchange transactions - transfers + Gains on foreign exchange transactions - notes - Losses on foreign exchange transactions - transfers - Losses on foreign exchange transactions - notes Income from foreign exchange activities + Gains on fixed income derivative products + Gains on foreign exchange derivative products + Gains on other derivative products - Losses on fixed income derivative products - Losses on foreign exchange derivative products - Losses on other derivative products Income from activities in derivatives products
12/31/2012
12/31/2011
1 089 831 73 817 1 016 014 1 521 3 154 10 364 -5 689 608 269 101 519 416 594 23 205 269 989 438 273 187 390 73 487 468 166 56 304 15 454 159 225
807 036 112 913 694 124 39 408 2 079 29 354 8 663 3 469 324 480 100 470 2 444 422 505 342 887 268 229 77 524 412 851 42 611 62 744 170 434
Income from equity securities at 31 december 2012
(thousand MAD) 12/31/2012
12/31/2011
Available-for-sale securities Investments in affiliates and other long-term investments
1 297 1 271 208
1 292 885 188
TOTAL
1 272 505
886 480
CATEGORY
Other income and expenses at 31 december 2012
(thousand MAD)
OTHER BANKING INCOME AND EXPENSES Other banking income Other banking expenses
TOTAL OTHER NON-BANKING INCOME AND EXPENSES Non-banking operating income Non-banking operating expenses
TOTAL Provisions and losses on irrecoverable loans Provision write-backs and amounts recovered on impaired loans NON-RECURRING INCOME AND EXPENSES Non-recurring income Non-recurring expenses
12/31/2012
12/31/2011
2 516 119 1 840 236
1 962 113 1 340 599
675 883
621 514
12/31/2012 72 100 -
12/31/2011 31 413 1
72 100
31 412
1 744 661 574 451
2 223 157 1 193 840
12/31/2012 1 367 187 049
12/31/2011 297 25 031
Breakdown of income by business activity and by geographical area at 31 december 2012
(thousand MAD)
I - DETERMINING INCOME
Amount
Income from ordinary activities after items of income and expenditure Tax write-backs on ordinary activities (+) Tax deductions on ordinary activities (-) Theoretical taxable income from ordinary activities (=) Theoretical tax on income from ordinary activities (-) Income after tax from ordinary activities (=)
5 005 395 545 735 1 284 325 4 266 805 1 578 718 3 426 677
II- SPECIFIC TAX TREATMENT INCLUDING BENEFITS GRANTED BY INVESTMENT CODES UNDER SPECIFIC LEGAL PROVISIONS
Detailed information on value added tax at 31 december 2012 TYPE
(thousand MAD) Balance at beginning of FY 1
Transactions liable to VAT declarations VAT during the period during the period 2 3
Balance at end of FY (1+2-3=4)
80 672
1 283 357
1 286 545
77 484
On expenses On fixed assets
116 192 64 480 51 712
556 116 439 114 117 002
517 307 407 806 109 501
155 001 95 788 59 213
C. VAT payable or VAT credit = (A-B)
-35 520
727 241
769 238
-77 517
A. VAT collected B. Recoverable VAT
Attijariwafa bank Results at 31 december 2012
17
Reconciliation of net income for accounting and tax purposes at 31 december 2012
(thousand MAD)
RECONCILIATION STATEMENT
Amount
I- NET INCOME FOR ACCOUNTING PURPOSES Net profit Net loss II- TAX WRITE-BACKS 1 – Current Income tax Losses related to tax control Losses on irrecoverable loans not provisioned General provisions Provisions for pension funds and similar obligation Non-deductible exceptional expenses Contribution for the social cohesion support Personal gifts 2- Non-recurring III- TAX DEDUCTIONS 1- Recurring 100% allowance on income from investments in affiliates Write-back of investment Write-back of provisions used Write-back of general contingency reserve 2- Non recurring TOTAL
3 154 677 3 154 677
Amount
2 055 750 2 055 750 1 510 015 14 411 337 500 52 968 60 759 78 867 1 230 1 284 325 1 284 325 1 256 048 28 277
(T1) 5 365 447
(T2) 1 284 325
IV - GROSS INCOME FOR TAX PURPOSES - Gross profit for tax purposes - Gross loss for tax purposes
4 081 122 if T1 > T2 (A) if T2 > T1 (B)
4 081 122
V - TAX LOSS CARRY FORWARDS (C) (1) - Financial year Y-4 - Financial year Y-3 - Financial year Y-2 - Financial year Y-1 VI - NET INCOME FOR TAX PURPOSES Net profit for tax purposes (A-C) Net loss for tax purposes (B) VII - ACCUMULATED DEFERRED DEPRECIATION ALLOWANCES
4 081 122 4 081 122
VIII - ACCUMULATED TAX LOSSES TO BE CARRIED FORWARD - Financial year Y-4 - Financial year Y-3 - Financial year Y-2 - Financial year Y-1 (1) up to the value of gross profit for tax purposes (A)
Shareholding structure at 31 december 2012 Name of main shareholders or associates
A- DOMESTIC SHAREHOLDERS * S.N.I * WAFACORP * AL WATANIYA * WAFA ASSURANCE * GROUPE MAMDA & MCMA * AXA ASSURANCES MAROC * REGIME COLLECTIF D'ALLOCATION ET DE RETRAITE * CAISSE MAROCAINE DE RETRAITE * CIMR * CAISSE DE DEPOT ET DE GESTION * OPCVM ET AUTRES DIVERS ACTIONNAIRES
Adress
Number of shares held Previous period Current period
% of share capital
ANGLE RUES D'ALGER ET DUHAUME CASA 42 BD ABDELKRIM AL KHATTABI CASA 83 AVENUE DES FAR CASA 1 RUE ABDELMOUMEN CASA 16 RUE ABOU INANE RABAT 120 AVENUE HASSAN II CASA 140 PLACE MY EL HASSAN RABAT 140 PLACE MY EL HASSAN RABAT BD ABDELMOUMEN CASA 140 PLACE MY EL HASSAN RABAT **************************
93 972 002 57 602 2 683 942 13 390 604 16 379 156 2 778 517 7 839 293 4 616 769 4 697 256 4 694 810 31 170 395
94 272 485 57 602 2 683 942 13 257 604 16 379 156 2 778 517 7 839 293 4 616 769 4 697 256 4 694 810 39 250 038
46.85% 0.03% 1.33% 6.59% 8.14% 1.38% 3.90% 2.29% 2.33% 2.33% 19.50%
PASEO DE LA CASTELLANA N° 24 MADRID (ESPAGNE )
10 715 614
10 715 614
5.32%
192 995 960
201 243 086
100.00%
B- FOREIGN SHAREHOLDERS
*SANTUSA HOLDING TOTAL
Appropriation of income at 31 december 2012
(thousand MAD) VALUE
A- Origin of appropriated income Earnings brought forward Net income awaiting appropriation Net income for the financial year Deduction from income Other deductions TOTAL A
1 497 3 154 677
3 156 174
VALUE B- Appropriation of income To legal reserve Dividends Other items for appropriation Earnings carried forward
1 640 466 1 515 017 691
TOTAL B
3 156 174
Branch network at 31 december 2012 12/31/2012
BRANCH NETWORK
12/31/2011
1 010 2 1 007 50 19
Permanent counters Occasional counters Cash dispensers and ATMs Overseas branches Overseas representative offices
944 2 933 50 17
Staff at 31 december 2012 STAFF
12/31/2012
Salaried staff Staff in employment Full-time staff Administrative and technical staff (full-time) Banking staff (full-time) Managerial staff (full-time) Other staff (full-time) Including Overseas staff
12/31/2011
7 090 7 090 7 090
6 826 6 826 6 826
3 633 3 416 41
3 444 3 343 39
Customer accounts at 31 december 2012 Current accounts Current accounts of Moroccans living abroad Other current accounts Factoring liabilities Savings accounts Term accounts Certificates of deposit Other deposit accounts TOTAL
12/31/2012 128 265 690 632 1 381 391
12/31/2011 120 716 658 415 1 255 048
661 295 18 922 3 170 582 398 3 466 073
601 952 18 137 3 671 440 433 3 098 372
Summary of key items over the last three periods at 31 december 2012 ITEM
(thousand MAD) DECEMBER 2012
DECEMBER 2011
DECEMBER 2010
25 213 767
21 444 555
19 833 814
9 665 297 4 819 712 1 510 015 1 640 466
8 973 062 4 604 514 1 449 837 1 543 968
8 238 233 4 345 210 1 338 685 1 157 976
8,50
8,00
6,00
1 610 608
1 540 770
1 377 972
SHAREHOLDERS’ EQUITY AND EQUIVALENT OPERATIONS AND INCOME IN FY Net banking income Pre-tax income Income tax Dividend distribution PER SHARE INFORMATION (IN MAD) Earning per share Dividend per share STAFF Total staff costs Average number of employees during the period
Key dates and post-balance sheet events at 31 december 2012 I- Key dates . Balance sheet date (1) . Date for drawing up the financial statements (2)
31 DECEMBER 2012 FEBRUARY 2013
(1) Justification in the event of any change to the balance sheet date (2) Justification in the event that the statutory 3-month period for drawing up the financial statements is exceeded
II. Post-balance sheet items not related to this financial year known before publication of the financial statements Dates . Favorables . Unfavourable
Indication of event Not applicable Not applicable
Attijariwafa bank Results at 31 december 2012
19