Union Bancaire pour le Commerce et l'Industrie (UBCI) Releases Interim Financial Results for the First Half of 2024
The Union Bancaire pour le Commerce et l'Industrie (UBCI) has published its interim financial results for the first half of 2024.
Deposits and Credit Portfolio
During this period, the bank recorded a 6.8% increase in deposits compared to the same period in 2023, bringing the total to 3,625 million dinars. This growth was driven by an 11% increase in term deposits and a 9% increase in savings deposits.
Meanwhile, the credit portfolio reached 3,088 million dinars, marking a 5.8% growth. This expansion was achieved within a framework of rigorous risk management, as evidenced by the bank's prudent ratios, with a 5.4% non-performing loan rate and an 80.2% coverage rate.
Investment Portfolio and Balance Sheet
The commercial and investment securities portfolio recorded a 14.5% growth, reaching 627.4 million dinars, primarily due to a 33% increase in new investment security subscriptions. These performances highlight the upward trend of UBCI, whose balance sheet grew by 7.5%, reaching 4,788 million dinars.
Net Banking Income and Net Result
The Net Banking Income (NBI) for this period stands at 153.4 million dinars, marking a slight 1% increase compared to the first half of 2023. After accounting for expenses, the Net Result as of June 30, 2024, amounts to 23.1 million dinars.
Strategic Transformation Plan
It is also important to recall that UBCI is actively pursuing its strategic transformation plan, which it initiated in 2021.
