Amen Bank's Net Banking Product Reaches 140.9 Million Dinars, Up 5.66% Year-Over-Year
As of March 2024, Amen Bank's net banking product (PNB) reached 140.9 million dinars, marking a significant 5.66% increase compared to the same period last year, when it stood at 133.4 million dinars. These figures, revealed by the bank's quarterly activity indicators published on April 22, testify to the solidity of the bank's financial performance.
Banking operating income contributed significantly to this growth, posting an increase of 23.8 million dinars, or 8.7% compared to March 2023. Conversely, banking operating expenses also rose, reaching 16.3 million dinars more than the same period last year, representing an 11.7% increase.
On the credit front, Amen Bank observed a notable evolution. Net credits to customers, excluding provisions and reserved interest, increased from 6,855.6 million dinars at the end of March 2023 to 7,112.7 million dinars at the end of March 2024, representing a 257.1 million dinar increase, or 3.75%.
Similarly, customer deposits and assets grew to reach 7,851.8 million dinars at the end of March 2024, representing a 655.6 million dinar increase, or 9.11% compared to the previous year.
In parallel, long-term resources, derived from loans and special resources, also experienced a 7.95% increase, reaching 818.4 million dinars compared to March 2023.
Despite this growth, the operating coefficient slightly increased, rising to 37.76% at the end of March 2024, compared to 36.87% for the same period last year, representing an 89-basis-point increase.
In addition to these financial performances, Amen Bank announced the launch of the new version of Amen Mobile V2, a revamped banking application offering a revolutionary user experience. Featuring an innovative graphical interface, this new iteration emphasizes intuitive design, improved ergonomics, and elaborate graphics, adapting to technological advancements to offer new functionalities.
In response to the needs of its national clients seeking to finance home extensions and renovations, Amen Bank also launched the "AMEN RENOV" credit.
Finally, the bank implemented an Artificial Intelligence project aimed at improving the efficiency of its LAB/FT mechanisms. This new solution, based on artificial intelligence, aims to reduce false positives, analyze high-risk transactions and behaviors in-depth, and enhance KYC data quality.