Bank of Tunisia (BT) Publishes 2024 Financial Statements
The Bank of Tunisia (BT) released its 2024 financial statements yesterday, showcasing a net banking income (PNB) of 509,985 MTND, a 6.7% year-over-year increase. The interest margin decreased by 11.3% to 306,060 MTND, while net commissions totaled 77,452 MTND, up 1.1%. The trading room generated 126,473 MTND, accounting for 24.8% of the bank's PNB.
Positive Highlights
The main positive takeaway is the significant decrease in risk costs, which fell to 39,842 MTND in 2024, down from 69,826 MTND the previous year. Operating expenses, including personnel costs, increased to 110,758 MTND.
Improved Performance
The bank's operating result rose to 306,884 MTND, a 19.7% year-over-year improvement, marking one of the best performances in the sector. Similarly, the net result increased by 10.6% to 188,415 MTND.
Deposit Collection and Risk Management
The bank demonstrated its ability to attract deposits, with a net collection of 891,856 MTND. The bank's risk selection remains strict, with a net credit portfolio evolution of 239,553 MTND over the same period.
Consolidated Results
The consolidated net result of the group stands at 199,437 MTND. As a reminder, the board of directors had already announced a dividend distribution of 0.350 TND per share. Based on yesterday's closing price, the net yield is 6.05%, remaining attractive given the bank's solid financial health. The first-quarter indicators, expected in the coming days, will help the market estimate the impact of the revision of fixed rates for certain types of credits on the current exercise's profitability.
