Amen Bank's Ordinary General Assembly: Strong Performance and Commitment to Sustainability
The ordinary general assembly of Amen Bank, held on April 24, 2025, reviewed the 2024 financial year and reassured shareholders of the bank's performance, resilience, and continued commercial dynamism in resource collection and economic financing.
NEXT Project and Sustainability Commitment
In addition to achieving the objectives of the NEXT project, which focuses on enhancing customer experience and digitalizing processes, Amen Bank reaffirmed its commitment to supporting and financing green projects.
Financial Highlights
- Deposits from customers reached 8,016.0 million dinars (Mtnd) as of December 31, 2024, a 5.1% increase compared to 2023, driven by the growth of sight deposits (23.0%) and savings deposits (9.1%).
- Customer loans increased from 7,166.5 Mtnd to 7,299.5 Mtnd.
- Operating income rose by 5.6% compared to 2023, while banking operating expenses increased by 6.2%, resulting in a 5% growth in Net Banking Product (NBP) from 540.0 Mtnd to 566.5 Mtnd.
- The 5.6% increase in operating expenses is mainly due to a 4.6% rise in personnel costs, primarily driven by sectoral salary increases. Despite this increase, the operating coefficient remained stable at 40.0%, similar to previous years.
Net Result and Capital Strength
- The 2024 financial year yielded a net result of 230.0 Mtnd, an 18.0% increase compared to 2023.
- Amen Bank reinforced its capital strength, with shareholders' equity reaching 1,574.0 million dinars as of December 31, 2024, a 9.13% increase, resulting in a net asset value per share of 45.1 dinars.
Risk Profile and Regulatory Compliance
- Amen Bank maintained a good liquidity risk profile, with a Liquidity Coverage Ratio (LCR) of 160.23%, exceeding the minimum regulatory requirement of 100.00% set by the Central Bank of Tunisia (BCT).
- The solvency and Tier 1 ratios stood at 16.17% and 12.20%, respectively, significantly above the regulatory requirements of 10% and 7%, confirming the bank's solid financial structure.
Dividend Distribution
- The ordinary general assembly of shareholders decided to distribute a dividend of 3,300 dinars per share, representing a payout of 50.1% and 66.0% of the nominal value.
