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Attijari Bank: 1 director
A director at Attijari Bank sold 15,000 shares at 49.014TND and the significance rating of the trade was 66/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
ASN Africa Stock Guide - July 2019
- In this Africa Stock Guide document, we have 33 main stocks selected from the Casablanca Stock Exchange from our scope of 40 companies, 13 stocks selected from the Tunisia Stock Exchange and 16 stocks from of the BRVM Stock Exchange. - The total capitalization of those stocks is: EUR 61.1 bn.
EURO CYCLES SA
BIAT BIAT
IAM ITISSALAT AL MAGHRIB STE SA
TJARI ATTIJARI BANK
ATL COMPAGNIE D'ASSURANCES ET DE REASSURANCE ATLANTA
ATW ATTIJARIWAFA BANK
NAKL ENNAKL AUTOMOBILES
CC CARTHAGE CEMENT
A110ZV TAQA MOROCCO
LBV HYPER S.A. (LABEL VIE)
SAH SAHAM ASSURANCE
LYD LYONNAISE DES EAUX DE CASABLANCA
GAZ AFRIQUIA GAZ
SFBT SOCIETE FRIGORIFIQUE ET BRASSERIE DE TUNIS
ATH AUTO HALL
OUL LES EAUX MINERALES D'OULMES S.A.
LES LESIEUR CRISTAL S.A.
DHO DELTA HOLDING S.A.
CMT COMPAGNIE MINIERE DE TOUSSIT S.A.
ADH DOUJA PROMOTION GROUPE ADDOHA
CMA LES CIMENTS DU MAROC
CDM CREDIT DU MAROC
ADI ALLIANCES DEVELOPPEMENT IMMOBILIER SA
TMA TOTAL MAROC SA
SOT SOTHEMA
MSA MARSA MAROC
DH DELICE HOLDING
LHM LAFARGEHOLCIM MAROC SA
- Ranya GNABA
Better than the sector, but still behind BIAT
Over these six months, Attijari Bank increased its NBI by a double-digit growth. The net banking income stood at TND173.380m following an increase of 13.4%, yoy. A performance that came after having aligned two solid quarters, 14.3% on Q1 and 12.6% on Q2. This was accompanied by an increase in the operating expenses, which led to a deterioration in the cost/income ratio to 45.4% (vs. 44.3%). Attijari Bank continues to boost its resources, and mainly demand deposits by, respectively, 7.4% and 12....
- Imen YAHIA
Would be able to withstand difficulties
Over Q1 2017, Attijari Bank’s NBI reported a 14.3% increase to TND82.9m. This increase stem from a 15.8% rise in the bank’s net interest margin to TND36.05m and by a 15.5% increase in net commissions to TND24.1m. Revenues from commercial and investment portfolios amounted to TND22.7m, i.e. a 10.8% increase compared to Q1 2016. The bank’s operating expenses rose by 15.9% to TND39.6m, i.e. a (cost/revenues) ratio adding 66 basis points to 47.76%. Compared to the end of 2016, the bank’s dep...
- Imen YAHIA
Would be able to withstand difficulties
Over Q1 2017, Attijari bank’s NBI reported a 14.3% increase to TND82.9m. This increase stem from a 15.8% rise in the bank’s net interest margin to TND36.05m and by a 15.5% increase in net commissions to TND24.1m. Revenues from commercial and investment portfolios amounted to TND22.7m, i.e. a 10.8% increase compared to Q1 2016. The bank’s operating expenses rose by 15.9% to TND39.6m, i.e. a (cost/revenues) ratio adding 66 basis points to 47.76%. Compared to the end of 2016, the bank’s dep...
- Imen YAHIA
The second half of 2016 made the difference
Over 2016, Attijari Bank’s NBI reached TND316.9m, i.e. a 15.35% yoy increase. This growth was pulled up by a 22.5% increase in net commissions to TND91.4m and a 29.16 % growth in net trading and investment activities to TND87.8m. However, the bank’s net margin added 4.21% to TND137.72m. Operating expenses increased by 8.5% to TND143.5m, i.e. a cost/revenues ratio at 45.3%, 286 basis points lower than 2015. At the end of 2016, the bank’s deposits reached TND5.460bn, i.e.
- Imen YAHIA
Pressures on interest margins counterbalanced by market operations and...
Over Q3 2016, Attijari’s NBI reached TND76.02m, i.e. an 11.5% increase compared to Q3 2015. This growth is pulled up by a 25.5% increase in net commissions (TND22.7m) and a 22.4% growth in In net trading and investment activities. However, the bank’s net margin lost 1.4% to TND32.8m. As of 30/09/2016, the bank’s deposits reached TND5351.7m, i.e. a 9.8% increase compared to the end of 2015. Customers’ loans amounted to TND4354.6m, i.e.
Q2 2016: a deterioration of the operating margin…
In Q2 2016, Attijari Banque’s performance improved considerably (deposits and credits compared to the sector) and income. The bank witnessed a deterioration in its liquidity ratio (deposits/Loans), passing from 126.6% (during Q1 2016) to 123.4% (during Q2 2016), but this ratio is still higher than the standard (100%). Compared to the publication on prior year, the NBI displayed an annual growth of 9.9% to TND152.870m while the costs increased by 10% to TND69.053m, thus the cost/income ratio de...
Continuing at the same pace…
Attijari released Q1 2016, in line with most of the other tunisian banks. The bank recorded a progression in NBI by 9.9% to TND72.540m. Thanks to this important rise, the banking cost-income ratio decreased by 108 bps to 46.1%, compared to 2015 and the operating margin has improved by 10 bps, reaching 53.9% during the same period. The bank was unable to improve its liquidity ratio (Deposits-to-Loans) which deteriorated, compared to FY 2015, from 127% to 126.6%.
In line with our forecasts…
Attijari bank overcame the difficulties it faced in Q3, and achieved a modest growth on it operating profit margin during the last quarter (0.96% to 54.64%). That was mainly due to the progress witnessed by the Net Banking Income (4.64% to TND 274.866M). The bank was able to improve its banking cost-income ratio in Q4 2015, yoy, by 81 bp to 45.36%. Liquidity ratio (Deposits-to-Loans) is comfortable as it has progressed by 40 bp to 123.7%.
Decline in loans
In Q1 2015, Attijari Bank released an NBI up by 6.9% to TND66M, yoy. The bank has kept the same level for its banking cost/income ratio, 48.3%, compared to Q1 2014. The liquidity ratio increased from 125.1% to 128.4%, compared to FY 2014. This improvement is due to the decline in loans, which affected almost all Tunisian banks, by 0.4% to TND3.586bn. Debts and special resources decreased by 16.4% to TND42.709M.
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