Bank of Tunisia and Emirates (BTE) Records 6.9% Decrease in Net Banking Product in Q1 2024
The Bank of Tunisia and Emirates (BTE) has reported a 6.9% decrease in its net banking product in the first quarter of 2024, amounting to 15,147 TND, compared to 16,275 TND in 2023.
According to the financial data revealed, banking operating products have increased by 3,784 million dinars, representing an 11.3% growth compared to the first quarter of 2023. This increase is mainly due to a 16.9% rise in interest income, amounting to 3,789 million dinars, as well as a 30.3% increase in commercial and investment portfolio revenues, totaling 0.812 million dinars.
However, this growth is offset by an increase in financial charges, which have risen by 4,912 million dinars, representing a 28.5% increase.
As a result, the net banking product has decreased by 6.9% compared to the same period in 2023.
Meanwhile, the securities portfolio has experienced a significant increase of 30,280 million dinars, representing an 18.4% growth.
Regarding credits, the net outstanding credits have reached 901,445 million dinars as of the end of March 2024, compared to 860,837 million dinars in the same period in 2023, marking a 4.7% increase. This is mainly attributed to a 26.5% increase in short-term credits to businesses and a 4.2% increase in long-term credits to individuals.
Deposits have also increased, showing a 5.4% growth, amounting to 970,542 million dinars.
Sight deposits have increased by 17.0%, reaching 39,465 million dinars, while certificate of deposit balances have increased by 8,000 million dinars, rising from 113,000 million dinars as of the end of March 2023 to 121,000 million dinars as of the end of March 2024.
Finally, savings deposits have reached 179,502 million dinars as of the end of March 2024, compared to 161,913 million dinars as of the end of March 2023.