BIAT Reports Strong Q1 2025 Results

BIAT Reports Strong Q1 2025 Results

At the end of the first quarter of 2025, BIAT posted a Net Banking Income (NBI) of 385,144 million Tunisian dinars (Mtnd), representing a 4.8% year-over-year increase. The bank generated interest income of 373,917 Mtnd, a 1.5% improvement compared to March 2024. Meanwhile, interest expenses totaled 223,465 Mtnd, up from 198,139 Mtnd at the end of Q1 2024. This increase reflects the growth in savings deposits over the period, which rose by 524,681 Mtnd compared to the same period. These resources are remunerated by the bank at high rates.

The net interest margin stood at 150,452 Mtnd, down 11.6%. The NBI benefited from the resilience of net commissions (63,466 Mtnd) and particularly from revenue generated by the commercial and investment portfolio and financial operations, which brought in 171,225 Mtnd.

Operating expenses increased by 16.0% to 172,845 Mtnd, a trend explained by the expansion of the bank's activity. The cost-to-income ratio stood at 44.9%.

BIAT remains unbeatable in terms of deposits, with a total of 20,336,009 Mtnd, an absolute record in the history of the Tunisian banking sector. In parallel, the net credit portfolio stood at 12,839,052 Mtnd.

We believe that BIAT is well-equipped to navigate the current challenging context surrounding the sector. Preserving profitability, in our view, depends on the quality of the asset portfolio. A mastery was observed in 2024, and it must be reiterated in 2025.