Amen Bank Reports Strong First Quarter Results

Amen Bank Reports Strong First Quarter Results

Amen Bank has reported a successful first quarter, with a net banking income of 150,134 MTND, a 6.5% year-over-year increase. However, the interest margin decreased by 20.2% to 37,095 MTND, which can be attributed to higher resource costs and lower interest income. The bank compensated for this decline in portfolio revenue with 82,879 MTND.

Lending and Deposit Growth

Since the beginning of the year, the bank has increased its net loan portfolio by 25,694 MTND, totaling 7,325,187 MTND. Over the same period, net deposit collection accelerated by 339,223 MTND, reaching 8,355,208 MTND.

Operating Expenses and Efficiency

Operating expenses increased by 7.2% to 57,048 MTND. The cost-to-income ratio stood at 68.0%, a slight increase of 24 basis points compared to the end of March 2024.

Strategic Developments

The bank's figures are reassuring, and it continues to pursue its diversification strategy. Notably, Amen Bank has integrated RIA Money Transfer's network, offering fast and secure global money transfers. Additionally, it has launched a new Visa Platinum Business card, designed to meet the needs of professionals and individuals seeking premium services. The card is marketed according to client needs, with a national version featuring a spending limit or a balance-based limit, as well as an international version compliant with current regulations. These initiatives are expected to strengthen the bank's presence among increasingly demanding retail and corporate clients.