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2016 Annual Report

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2016 Annual Report ANNUAL REPORT AND CORPORATE SOCIAL RESPONSIBILITY REPORT 2016 ANNUAL REPORT AND CORPORATE SOCIAL RESPONSIBILITY REPORT 2016 Contents 06 Chairman’s Message 08 Looking back, looking ahead 16 A universal bank 112 Putting all our energies into innovation 20 Corporate governance 3 Multi-channel Banking 30 Corporate strategy Group Global Risk Management 32 Interviews Group Services and Processing 38 Performance Group Information Systems Group Legal Advisory 44 Awards 48 Putting all our energies into our customers 124 Putting all our energies into generating 1 Retail Banking 4 and sharing value • Personal and Professional customers Spotlight on our CSR policy • Private Clients • Corporates Ethics and fair treatment • Attijariwafa bank Europe A socially responsible employer Group Transactional Banking Responsible procurement Group Corporate and Investment Banking A customer-centric approach International Retail Banking A key player in the green economy Specialised Finance Companies and Insurance Engaging with local communities and with • Wafa Immobilier civil society • Wafasalaf • Wafacash • Wafabail • Wafa LLD • Wafa courtage 156 Management Report • Attijari Factoring 5 Analysis of business activity and results • Dar Assafaa • Wafa IMA Assistance Parent financial statements • Wafa Assurance Consolidated financial statements 96 Putting all our energies into Africa 170 Contacts 2 Africa Development Club 6 International Africa Development Forum Agreements and partnerships Chairman’s Message Mohamed EL KETTANI Chairman and Chief Executive Officer, Attijariwafa bank Group Consistent with its ever-changing environment, Attijariwafa bank is spending even more energy in developing its universal banking model, renewing its range of services and products, adapting its organisational structure and reinventing customer relationships, while leveraging the very best that the digital revolution has to offer. Attijariwafa bank Annual report and corporate social responsibility 2 0 1 6 P 7 The Group adhered fully to its corporate strategy in 2016 This transformation is not possible, however, without each which had a positive impact on performance. Profit growth of our employees being highly motivated and committed was more than respectable in an environment characterised over the long term. Taking initiatives, liberating energies and by weak loan growth and a contraction in banking synergising talent are the three major catalysts that have intermediation margins in Morocco. enabled the Group and its employees to reach common set of goals and define a new framework aimed at ensuring that Our results illustrate the fact that our strategic choices our initiatives are successful. are entirely consistent with those of SNI, our reference shareholder. They are also the result of our commercial In 2016, we also adopted a new approach to Africa. dynamism and our ability to innovate in order to accelerate our development in every country in which the Group has Here, too, we have concentrated all our energies into operations. fostering our continent’s economic development. Priority is given to investment in countries with high growth potential, Over and above our commercial performance, 2016 was a particularly in East and Central Africa and to strengthening transformative year. The Group has embarked on a major economic ties between our continent’s main regions, from transformation process culminating in 2020. This strategic North to South and East to West. plan, named «Energies 2020», refers to the potential that each one of us has, regardless of whether we are customers, The growing success of the International Africa Development domestic or international partners or employees, to go one Forum (FIAD) is a perfect illustration of this. Our Forum, step further. The plan is structured around thirty cornerstone which takes place annually, has become a leading platform projects and about a hundred or so other projects, mobilising for sharing ideas and forging partnerships and is open to all more than 800 employees. economic agents and policy-makers who wish to contribute to our continent’s economic integration. We have chosen the To make a success of this new challenge, we have redesigned theme of «growth» for our fifth forum as we are convinced our leadership model in order to achieve our primary goal, that only economic and social inclusion can guarantee the which is to become the country’s leading relationship-based region’s sustainability and security. bank. Ranging from our bank branches to our 100% mobile banking service, as well as our Customer Relationship One of the highlights of 2016 was the COP22 in Marrakech, Management (CRM) Centre and our Self-Service Banking which marked a major turning point for the entire planet. As facility, we have evolved to satisfy our customers’ desire to one of the main sponsors of this historic event, Attijariwafa bank interact freely with their bank, by offering a personalised, proactively demonstrated its commitment to supporting a real-time relationship combining personal contact with a green economy in every country in which the Group has range of digital services. This was achieved by redesigning operations by signing numerous strategic agreements. the e-banking and m-banking platforms, developing new We launched several projects in partnership with major electronic payment services and digitising credit processes, international groups aimed at providing Africa with clean as well as launching the first 100% digital bank in Morocco energy infrastructure, with a priority on renewable energies under the L’bankalik brand. and energy efficiency. We have also worked hard to reinvent our relationship with Through our «Energies 2020» strategic plan and several small businesses by launching Dar Al Moukawil, the first web other initiatives, Attijariwafa bank is developing values that platform dedicated to small businesses. This enables them give it is unique identity and strength – a customer-oriented to access information and training in all matters relating to approach, a strong sense of empathy with its employees entrepreneurship as well as broadening their horizons and who are its main asset, an openness to new technologies opening up new opportunities. and best practices and a proven track record in innovation and execution. Attijariwafa bank has also continued to focus on providing support to medium and large companies in their quest to be Such values are able to generate tremendous growth competitive through a range of customised and high value- potential. And that is why we will continue to focus all our added products and services that meet the very highest energies into developing them. standards. Looking back, looking ahead 2016 was a year in which Attijariwafa bank overcame a significant number of challenges and recorded several major achievements. 2017 will see the Group turn over a new page in its history. Boubker JAI General Manager Corporate and Investment Banking, Capital Markets and Financial Subsidiaries Division annual report and corporate social responsibility 2016 P 9 2016 was a year in which Attijariwafa bank overcame a initiatives have been ongoing ahead of the introduction significant number of challenges and recorded several of the Basel framework in sub-Saharan Africa, which major achievements. will take place as early as 2018. These will make it The 2013-2015 strategic plan came to a successful possible to bolster provisioning for sub-standard loans conclusion and the Group embarked on «Energies 2020», and initiate appropriate restructuring measures with the its new strategic plan. The latter consists of a number counterparties in question. of cornerstone projects which mark a break with past As far as resources are concerned, by increasing capacity initiatives and ensure that the Group is well positioned at head office and adopting specialised IT and e-banking to meet the economic challenges that lie ahead, the platforms for subsidiaries, the Group has gradually needs of its customers and the very latest developments helped them to unload some of their administrative work within the banking industry. and focus more on production and forge closer ties with In such a context, the ongoing reorganisation of the customers. system for supporting and assisting subsidiaries has 2017 will see the Group turn over a new page in its provided the Bank with a matrix-based organisational history. In particular, the Group will take its first steps structure that now enables the Group’s various business into East Africa following the acquisition of a bank in lines to work in synergy with subsidiaries, across Egypt. This is an unprecedented development that all geographical regions, thereby accelerating value will provide us with the opportunity of deploying our creation, profitability and operational efficiency. universal banking model in what is a much larger The full extent of the «Group» dimension, incorporated economic environment compared to our previous within our management model in recent years, can locations outside Morocco while offering genuine growth be felt at the subsidiary level, thanks, in particular, to prospects. standardised platforms for consumer credit, leasing and The many strategic initiatives envisaged by the «Energies factoring for retail activities as well as in structured 2020» plan will require a complete transformation of finance for major infrastructure projects or in supporting the way in which we manage the Group’s cornerstone governments when it comes to their financing needs.
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