Results. Attijariwafa bank as of December 31 st, Financial Communication Attijariwafa bank Results at 31 december 2012

Results 12 2 012 430 860 Attijariwafa bank Results at 31 december 2012 1 Financial Communication 2012 Attijariwafa bank  as of December 31st, 20...
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Results

12

2 012 430 860

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

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