QNB Tunisia Achieves Significant Progress in 2024, Paving the Way for a Return to Profitability in 2025
2024 was a pivotal year for QNB Tunisia, a subsidiary of the largest financial institution in the Middle East and Africa, as it continued to implement its new strategy and consolidate its performance. Through rigorous management and an efficiency-focused strategy, the bank is actively preparing for its return to profitability in 2025.
Sustained Growth and Improving Indicators
At the end of 2024, QNB Tunisia's loan portfolio recorded a 12% increase, reaching TND 1,887 million, reaffirming the bank's active role in financing the Tunisian economy. Public sector engagements continued to grow, reaching TND 466 million. The bank's investment portfolio in Treasury Bonds and National Bonds also strengthened, reaching TND 558 million in 2024, demonstrating its commitment to participating in national economic stability.
Furthermore, the quality of the credit portfolio continued to improve, with a significant reduction in classified engagements, which decreased by TND 91 million to TND 514 million. The non-performing loan ratio improved to 27.3%, maintaining its downward trend since 2021, in line with the bank's roadmap.
Continuous Growth in Deposit Collection
QNB Tunisia achieved a notable 14.4% increase in deposit collection in 2024, reaching a total of TND 1,582 million. This performance was driven by the growth of all types of deposits, with a 12% increase in savings deposits to TND 146 million, a 13% increase in term deposits to TND 992 million, and an 11% increase in sight deposits to TND 376 million. The bank also reinforced its deposit offers for individuals, businesses, and institutions, contributing to the improvement of its liquidity.
Optimized Resource Management and Cost Control
In a context of cost control, QNB Tunisia implemented an optimized resource management policy. The diversification of deposit sources, including low-cost products and a better structuring of term deposits, improved the bank's profitability and reinforced its competitive position in the market.
Return to Profitability in 2025
The bank's restructuring strategy, initiated in 2021, is starting to bear fruit. In 2024, the Net Banking Product (NBP) continued to grow, with a 25.7% increase compared to the previous year, reaching TND 70 million. This growth resulted from a sustained improvement in the interest margin, driven by optimized resource management and strategic diversification of revenue sources, enhancing the bank's resilience and competitiveness.
The control of operating expenses and the continued reduction of risk costs allowed for a 36% decrease in the net loss, an improvement of TND 25 million. With this positive dynamic, QNB Tunisia is now projecting a return to profitability in 2025, confirming the effectiveness of its efforts to reposition itself in the market.
Solid Financial Position and Risk Management
The bank's own funds reached TND 282.9 million, consolidating its financial solidity. The solvency ratio (25.5%) and liquidity ratio (245.9%) remain well above regulatory requirements, ensuring QNB Tunisia's resilience in the face of market fluctuations. The credit coverage ratio reached 104%, compared to the 120% ceiling set by the Central Bank of Tunisia.
The bank's restructuring and implementation of good governance, in line with the Central Bank of Tunisia's circulars and the parent bank's policies, enabled it to master risks related to credit, liquidity, market, and operational risks.
A Model of Responsible Development
QNB Tunisia's commitment to sustainable development intensified in 2024 through several major ESG initiatives. The bank reinforced its support for microfinance, allocating over TND 57.3 million to finance microfinance institutions and small businesses, promoting financial inclusion and job creation.
Additionally, QNB Tunisia extended its banking services to underserved populations through new digital channels, enabling a large segment of the population to access financial services.
On the social front, the bank initiated several actions in favor of education and youth entrepreneurship, including financial education programs.
It also confirmed its commitment to supporting the healthcare sector, a fundamental pillar of its social responsibility strategy. The bank launched several initiatives, including blood donation campaigns in collaboration with the National Blood Transfusion Center, breast cancer awareness campaigns, and improvements to public hospital conditions. QNB Tunisia also supports sports and athletes in Tunisia, particularly women's sports.
Conclusion
In conclusion, QNB Tunisia reaffirms its commitment and constant willingness to serve the Tunisian economy, with the objective of returning to profitability by the end of 2025, while reinforcing its role in the national financial landscape.
QNB Tunisia is present in 11 governorates through 29 branches, including two QNB First branches in Tunis and Sousse, and three corporate business centers for enterprises in Greater Tunis and Sousse.
