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Attijariwafa Bank FY'18 net income up 5.8%

Attijariwafa Bank SA posted full-year 2018 net income group share of 5.71 billion Moroccan dirhams, up 5.8% from the year-ago 5.39 billion dirhams.

EPS for 2018 stood at 27.19 dirhams, up from 26.49 dirhams a year earlier.

Net interest income rose on a yearly basis to 13.99 billion dirhams from 12.91 billion dirhams. Net fee income was up 5.2% to 5.03 billion dirhams.

Net banking income increased to 22.37 billion dirhams from 21.64 billion dirhams, so did net operating income, to 9.93 billion dirhams from 9.50 billion dirhams.

The Moroccan lender booked net gains on trading assets of 3.13 billion dirhams, lower than 2.87 billion dirhams a year earlier.

Attijariwafa Bank incurred amortization and depreciation expenses on tangible and intangible assets of 1.07 billion dirhams, compared to 937.3 million dirhams a year ago. General operating expenses rose on a yearly basis to 9.65 billion dirhams from 9.04 billion dirhams.

The board will propose a dividend of 13 dirhams per share to the ordinary general meeting of shareholders.

As of March 18, US$1 was equivalent to 9.59 Moroccan dirhams.