Union Bancaire pour le Commerce et l'Industrie (UBCI) Publishes its 2024 Financial Results
Solid Balance Sheet Growth
As of the close of the 2024 financial year, UBCI's total balance sheet reached 5,175 million dinars, exceeding the symbolic threshold of 5 billion dinars, representing a 13.7% annual growth rate, testifying to the bank's financial solidity. Deposits also experienced significant growth, reaching 3,778 million dinars, a 11.4% increase, accompanied by an improvement in the deposit structure, which remains among the best in the sector. Net customer loans progressed by 11.2%, amounting to 3,290 million dinars, surpassing the average performance of listed banks.
Mastered Risk Management
In a delicate economic environment, UBCI pursues proactive risk management. Asset quality indicators have been improved, with a reduction in the non-performing loan (NPL) rate to 5%, and a robust 76.4% coverage rate for non-performing loans, among the best ratios in the sector. UBCI's financial solidity ratios remain high and compliant with regulatory requirements, ensuring the bank's sustainability.
Resilience and Profitability
Net Banking Income increased by 6.1%, reaching 321 million dinars. Operating expenses recorded a controlled 8% increase, allowing the bank to maintain rigorous cost control during a period of investments. The Net Result for the year reached 54.1 million dinars, a 2.2% increase, illustrating the bank's ability to reconcile growth with optimal risk management.
Ordinary General Meeting Convocation
Following its Board of Directors meeting, UBCI is convening its shareholders to the Ordinary General Meeting (OGM), which will take place on April 29, 2025, at the Radisson Blu hotel in Tunis (formerly LAICO).
