UIB Reports Moderate Growth in Q1 2026
Key Highlights
- Operating income reaches 222,471 MTND, down 0.9% compared to Q1 2025
- Net banking income increases by 5.4% to 132,478 MTND, driven by solid retail business growth
- Customer loan portfolio grows by 4.9% to 6,395,164 MTND, while deposits increase by 4.4% to 7,228,099 MTND
Operating Income and Expenses
The UIB's operating income for the first quarter of 2026 stands at 222,471 MTND, representing a slight decline of 0.9% compared to the same period in 2025. This decrease is primarily due to a drop in commission-based products (-2.8% to 39,938 MTND) and interest income (-3.5% to 159,782 MTND). However, the bank's securities portfolio (commercial and investment) performed exceptionally well, with a 27.6% increase to 22,751 MTND.
Operating expenses, including interest and commissions, decreased by 8.9% to 89,993 MTND. As a result, the net banking income (PNB) rose by 5.4% to 132,478 MTND, demonstrating the bank's ability to maintain its commercial profitability. Excluding the impact of Law 2024-41 (amendment to the commercial code), the PNB increase would have been 6.4%.
Retail Business Growth
The UIB's retail business has shown solid growth, with the customer loan portfolio increasing by 4.9% over the past year to 6,395,164 MTND. Deposits have also risen by 4.4% to 7,228,099 MTND, driven by a significant increase in savings deposits (+228,986 MTND) and demand deposits (+142,636 MTND). This growth reflects the bank's ability to maintain customer trust.
Expenses and Efficiency Ratio
Personnel expenses have increased by 8% to 55,332 MTND, which the bank attributes to the impact of Law 2025-09 regulating employment contracts. Excluding this effect, the increase would be in line with inflation. Overall operating expenses have risen by 5.5% to 74,354 MTND. As a result, the gross operating result has increased by 5.2% to 58,200 MTND.
The efficiency ratio has stabilized at 56.1%. Excluding exceptional accounting items, it stands at 53%.
Conclusion
Overall, the UIB has reported a first quarter of controlled growth, driven by commercial activism and an increase in financial revenues. However, the bank faces pressure from rising social charges.
