Last Year Was a Positive One for Savings in Tunisia
Households Increased Their Savings Rate, Limiting Inflation
Last year was a very positive one for savings in general. With a minimum net return of 5.6%, Tunisian households increased their propensity to save, thereby limiting the inflation bill. The figures show that in 2024, bank savings reached 34,304 million Tunisian dinars (Mtnd), a net collection of 3,375 Mtnd in just one year, which is simply enormous.
La Poste: A Formidable Competitor to Banks
But it's not just banks. In this segment, La Poste, the public financial institution, has a unique trust capital throughout the industry. The savings deposits it hosts have exceeded, for the first time in its history, the 10 billion dinar mark. They ended the year at 10,299 Mtnd, a net increase of 1,006 Mtnd over one year. A fine performance.
La Poste's Strategy Pays Off
La Poste's strategy over the past few years is paying off. It is attracting more and more young people, accustomed to using the D17 application, which has been downloaded 9.9 million times on the Play Store, not counting iOS. It is easy to open a postal account, and its geographical footprint, with a strong presence in the country's internal regions, where banks do not venture, allows it to retain its customer base.
A Bright Future Ahead for La Poste
Last year, La Poste posted record profits, and it can continue on this momentum. We reiterate our opinion that it should not be transformed into a bank. It is essential to maintain healthy assets and avoid problematic assets and losses. Last summer, it entered the capital of BTE, and as a diversification strategy, this is a good idea. It can, however, develop in life insurance, which is a future-oriented segment. It already has its products, and it just needs to focus on the commercial aspect.
