BIAT Publishes 2024 Financial Statements
The BIAT has published its financial statements for the 2024 fiscal year. The results, including the dividend, were announced earlier. The Board of Directors has convened an Ordinary General Meeting for April 25, 2025, with a proposed dividend of 6 TND per share. The detachment will take place on May 12, 2025.
Financial Highlights
The financial statements reveal a net banking income (PNB) of 1,479,714 MTND, a 5.9% increase year-over-year. The net interest margin stood at 658,053 MTND, stable compared to 2023. This demonstrates that a prolonged period of high interest rates is not necessarily beneficial for the sector, as demand for credit will eventually decrease, and the cost of resources will gain a few basis points.
The net credit portfolio evolved to 364,490 MTND, while the gross portfolio reached 452,638 MTND. Deposits soared to 2,011,616 MTND, making BIAT the first bank in Tunisia to surpass the 20 billion dinar deposit threshold. Moreover, sight deposits amount to 10,532,265 MTND, allowing for better control over resource costs.
Profitability and Asset Management
This also enables greater profitability in asset management. The market room generated 544,824 MTND in 2024, accounting for 36.8% of the PNB. Net commissions totaled 276,837 MTND, a 9.0% increase compared to 2023. This proves that if a bank offers high-value-added services, its commission revenue will not be affected by the capping of basic banking service fees.
The factor that allowed profits to grow by 7.9% to 357,754 MTND was the risk cost, which decreased from 254,562 MTND in 2023 to 158,312 MTND last year. This enabled the bank to absorb the impact of increased tax and social charges.
Group Performance
Overall, the financial statements demonstrate the bank's good financial health. At the Group level, the net result attributable to the Group evolved by 5.8% to 379,406 MTND. BIAT has all the ingredients to resist the regulatory and fiscal pressure exerted on the entire sector, making it one of the best banking investments currently available on the Tunisian stock market.
