BNA Posts Excellent Second-Quarter 2024 Results, Defying Industry Trends
The BNA has published outstanding figures for the second quarter of 2024, bucking the trend of the majority of the sector. The bank's net banking product (PNB) for the second quarter of the year reached 289,214 MTND, a 26.4% year-over-year increase. Broken down, the interest margin totaled 55,844 MTND, up 10.5% compared to the second quarter of 2024. Similarly, commissions on products increased by 18.9% to 41,628 MTND. Revenues from the securities portfolio and investments reached 191,742 MTND.
Over the first six months of the year, the PNB reached a peak of 542,321 MTND, compared to 498,755 MTND at the end of June 2024, representing an 8.7% year-over-year increase. Although the interest margin is down 43.2% to 89,620 MTND, this was more than offset by net commissions of 83,502 MTND and portfolio revenues of 369,199 MTND. The BNA's investment portfolio stands at 8,969,210 MTND, including 219,059 MTND in commercial securities. For comparison, the portfolio was valued at 6,402,909 MTND a year earlier. The financial institution has taken advantage of the abundant supply of debt securities, particularly from the sovereign, to secure high revenues for the coming years and mitigate the impact of the decline in the benchmark interest rate.
The outstanding loans (net of provisions and reserved interest) stood at 13,973,962 MTND, a significant increase compared to the end of December 2024, with an additional 521,768 MTND. Deposits have also evolved positively, with a net collection of 426,717 MTND over six months. The positive aspect is that there are more sight deposits (+539,722 MTND), indicating a control of resource costs.
These figures confirm the excellent dynamics of the bank. The main question now is who the beneficiaries of these granted financings are. While there are public enterprises, what is the proportion? We are thinking here about the quality of the BNA's assets and their contribution to the financing of the private productive sector. The semi-annual financial statements, which are expected to be positive, will give us a clearer idea of this distribution.
