International Leasing Company (CIL) Announces 2024 Financial Results
The International Leasing Company (CIL) announced yesterday that its Board of Directors has approved the individual and consolidated financial statements for the 2024 fiscal year and submitted them to the auditors. The social accounts show a net income of 19,862 million Tunisian dinars (Mtnd), a 2.5% increase year-over-year. The consolidated financial statements, on the other hand, report a profit of 20,182 Mtnd, compared to 19,604 Mtnd the previous year.
It is clear from these figures that CIL had an excellent second half of 2024. At the end of the first half of last year, the net income was stable. Although the company had to pay a higher corporate tax at the end of the year, it managed to improve its bottom line. In addition to the 5.0% increase in its net leasing product to 44,922 Mtnd, we believe that the risk cost was controlled, despite a significant 24% increase in classified commitments to 56,923 Mtnd, according to the activity indicators published in January.
The Board of Directors has decided to convene an Ordinary General Meeting of shareholders on April 22, 2025. The proposed dividend amounts to 2,200 Tunisian dinars (Tnd) per share. For reference, the company distributed 2 Tnd per share last year. The net yield stands at 7.5%, one of the best in the financial sector. Since the beginning of the year, the stock's performance has been 5.98%, ensuring a good value-return ratio for shareholders.
