The Tunisian Bank of Financing for Small and Medium-Sized Enterprises (BFPME) Risks Dissolution Due to Critical Financial Condition
According to the auditors, the BFPME faces dissolution due to a critical financial situation.
This alarming finding is grounded in Article 388 of the Tunisian Commercial Companies Code, which requires either dissolution or capital regularization in the event of substantial losses. However, the BFPME has failed to comply with these requirements.
In March 2024, the bank reduced its social capital from 100 million dinars to 10 million dinars before increasing it to 69.06 million dinars by converting a debt owed to the state. However, these operations were insufficient to absorb the losses or stabilize its financial structure.
The bank reports a deficit of 16.2 million dinars out of a budget of 269.8 million dinars, with a temporarily positive treasury of 29.2 million dinars. In addition to financial fragility, the auditors denounce severe internal control weaknesses, a lack of qualified personnel, inefficient risk management tools, and critical vulnerabilities in the information system.
