(Adds details on profits)
RABAT, March 7 Morocco's Attijariwafa Bank said
on Wednesday its 2016 net profit attributable to shareholders
rose to 4.8 billion dirhams ($475.85 million), an increase of
5.7 percent from a year ago, strengthened by commercial activity
in its insurance and financial branches.
The bank, controlled by Moroccan royal family holding SNI
and one of the country's largest lenders, said total
consolidated assets rose 4.3 percent, while net banking income
rose 3.6 percent to 19.7 billion dirhams.
Consolidated shareholders' equity rose to 47.4 billion
dirhams, up 15 percent.
The bank also cited strong growth potential in Africa,
following its purchase of Barclays Bank of Egypt and its
acquiring a majority stake in Rwanda's Cogebanque last year.
Attijariwafa has subsidiaries in Tunisia, Ivory Coast,
Senegal, Mauritania, Mali, Cameroon, Gabon and Congo
Brazzaville, plus branches in Europe catering mainly for
Moroccans living there.
($1 = 10.0872 Moroccan dirham)
(Reporting by Samia Errazzouki; editing by Patrick Markey)