Impacted by the coronavirus health crisis, the Attijariwafa bank group finally decided to increase its share capital. The bank is now bringing its share capital (including issue premium) to a total amount of 1,416,552,692 dirhams (158.2 million USD).
Meeting on December 23, 2020, the Board of Directors set the characteristics and final terms of this transaction, published Monday, December 28 on the Casablanca stock exchange. Thus, Attijariwafa bank will issue a maximum number of 3,650,909 new shares at an issue price of 388 dirhams, ie a nominal value of 10 dirhams / share and an issue premium of 378 dirhams / share.
The main objective of this operation is to strengthen and maintain the current regulatory capital and, consequently, to strengthen the solvency ratios of Attijariwafa bank. It will also make it possible to finance the organic development of the bank in Morocco and internationally, and to anticipate the various regulatory developments in the countries of presence.
The increase in share capital is reserved for holders of Attijariwafa bank shares on the eve of the detachment of the sums distributed scheduled for January 5, 2021.
Note that the group suffered the negative effects of the coronavirus during the 3e quarter 2020. With in particular on arrival, three red indicators during the period considered.
Consolidated net income and net income group share stand at 2.5 billion dirhams (279.2 million dollars) and 2 billion dirhams (223.3 million dollars), down 52.5% and 55.2 billion, respectively. %. As for the cost of risk, it stood at MAD 4.6 billion ($ 513.7 million), showing an increase of 239% compared to the same period in 2019. This under the effect of the deterioration risks and anticipatory and prudent provisioning linked to the health crisis and its effects on the economic environment.
As a reminder, Morocco’s leading bank is committed to accompanying and supporting more than 32,900 Moroccan companies, mostly small businesses, through the distribution of 27.1 billion dirhams ($ 3 billion) in additional loans since the start of the crisis.