UBCI Reports Strong First Half 2024 Results
The Union Bancaire pour le Commerce et l'Industrie (UBCI) has announced its first half 2024 results, revealing a significant increase in its main activity indicators.
Deposit Growth and Credit Portfolio Expansion
During this period, UBCI recorded a 6.8% increase in deposits, reaching 3,625 million dinars, driven by a notable 9.5% rise in savings deposits. In parallel, the bank's credit portfolio grew by 5.7%, reaching 3,085 million dinars, while maintaining a rigorous risk management approach. The prudential ratios, including the non-performing loan (NPL) rate and coverage ratio, remain among the best in the banking sector. Additionally, the commercial and investment securities portfolio experienced robust growth of 14.53%.
Net Banking Product and Revenue Growth
The Net Banking Product (PNB) reached 153.4 million dinars at the end of the first half of 2024. This result includes a net operating margin of 87.4 million dinars, net commissions up 9.3% to 32.7 million dinars, and commercial and investment securities revenue totaling 33.3 million dinars, marking a 5.4% increase. Operating expenses were controlled, with a 7.5% increase despite an intensive investment period.
Ongoing Transformation and Investment Program
UBCI continues to actively deploy its transformation and investment program initiated in 2021.