BNA Bank Posts Solid Performance in Q1 2024, with 7.5% Increase in Net Banking Product
The BNA Bank has reported a solid performance in the first quarter of 2024, with a 7.5% increase in its net banking product (PNB), reaching 270 million dinars, compared to 251 million dinars during the same period last year.
The bank's operating income has also seen a growth, reaching 576 million dinars by the end of Q1 2024, an 8.9% increase compared to 529 million dinars recorded during the same period in 2023.
This positive performance is, however, accompanied by an increase in operating expenses, which rose to 306 million dinars as of March 31, 2024, compared to 278 million dinars during the same period in 2023, representing an increase of 28 million dinars. Overall, operating expenses increased by 4.7% between March 2023 and March 2024.
Despite this increase in expenses, the BNA Bank's customer loan portfolio, net of provisions and accrued interest, slightly decreased by 0.2%, standing at 13,892 million dinars, compared to 13,920 million dinars during the same period in 2023.
On the other hand, customer deposits have recorded an impressive growth, increasing by 1,200 million dinars, or 11%, between March 2023 and March 2024.
Furthermore, the BNA Bank's investment securities portfolio has significantly increased, rising from 4,612 million dinars as of March 31, 2023, to 5,936 million dinars as of March 31, 2024. This significant increase is mainly attributed to subscriptions to the national bond issue and the acquisition of BTAs.