Alubaf International Bank Publishes 2024 Financial Statements
Alubaf International Bank, one of the leading offshore banks established in Tunis, has released its financial statements for the 2024 fiscal year. The institution has recorded a net banking income (NBI) of $14.648 million, representing a 17.0% year-over-year increase.
This performance is driven by a net interest margin that has grown by 8.2%, reaching $10.959 million. Net commissions have generated $2.499 million, while foreign exchange operations have contributed $1.190 million.
Primarily focused on serving institutional clients, Alubaf has achieved moderate growth while benefiting from excellent asset quality. This is reflected in a controlled risk cost of $2.400 million, enabling the bank to report an operating income of $4.832 million.
The net result for the fiscal year stands at $4.792 million, marking the second consecutive year of profitability. The bank's equity remains solid at $100.419 million, ensuring a robust financial foundation. As a subsidiary of the Libyan Foreign Bank (Tripoli), Alubaf benefits from the strategic and financial support of a well-established and healthy banking group. Notably, the parent bank reported a 2024 net income of $440 million, which is not far from the profits of the entire Tunisian banking sector.
Beyond its financial performance, Alubaf has played a significant role in developing intra-Maghreb commercial exchanges since its establishment in 1985. Its primary mission is to offer high-quality banking and financial services to non-resident companies, international trade enterprises, and exporting companies, whether partially or fully oriented towards export.
