Arab International Bank of Tunisia Announces 2024 Net Income of 357.8 Million TND, Up 7.9% Year-Over-Year
The Arab International Bank of Tunisia has announced a net income of 357.8 million Tunisian dinars (MTND) for the 2024 fiscal year, representing a 7.9% increase year-over-year. The bank's net banking product (PNB) reached 1,479.7 MTND, while its own funds, before allocation, stood at 2,226.4 MTND.
This performance demonstrates, once again, the bank's uncontested leadership position in the sector. At the end of the first half of the year, the bank had already posted a stable result. The pleasant surprise is that it was able to overcome all regulatory challenges, despite a higher tax rate and increased collective provisions. The Arab International Bank of Tunisia's business model has thus proven to be consistently profitable, offering unique services that justify their prices.
The decline in tariffs in 2024 did not affect the bank's ability to generate commissions and attract more customers. This is a unique model in a highly competitive market.
Upcoming General Assembly and Dividend Proposal
The board of directors has decided to convene an ordinary general assembly on April 25, 2025, to deliberate on, among other things, the 2024 financial statements. A dividend of 6 TND per share will be proposed, subject to the approval of the Central Bank of Tunisia. If approved, the net yield would be 5.4% based on yesterday's closing price. On the market, the stock has risen by 5.15% since the beginning of the year, which is lower than the market average, but understandable given the current concerns in the banking sector. The challenge for 2025 will be to maintain this level of profitability.
