Tunisian Bank (STB) Closes 2024 Financial Year with Positive Result of 82.5 Million Dinars
The Tunisian Bank (STB) has closed its 2024 financial year with a positive result of 82.5 million dinars (MD). However, the bank's board of directors has proposed not to distribute dividends to shareholders for the realized profits, which will be discussed during the ordinary general assembly of shareholders on Wednesday.
According to financial indicators, notes, and reports from the auditors published on the website of the Financial Market Council (CMF), the wage bill has increased by approximately 4% to 226.6 MD last year, constituting one of the highest operating expenses of the bank, which explains the decline in net results and the absence of dividend distribution to shareholders.
The auditors' report also showed that the total balance sheet of STB has recorded a slight increase of 2.4%, rising from 14.6 billion dinars in 2023 to 14.9 billion dinars at the end of 2024.
The net banking product has decreased by approximately 5.2% in 2024 to 649.7 million dinars. According to the same report, STB has written off non-recoverable loans worth 199.5 million dinars, including 33.6 million dinars in late interest.
The bank does not maintain a foreign currency accounting system that complies with current standards, notes the report, estimating that this situation may impact its financial situation.
It is worth noting that the bank's liquidity has decreased in 2024 to approximately 19 million dinars, compared to 698 million dinars in 2023. The STB's investment portfolio has significantly increased by 41.6% to 223.6 million dinars at the end of 2024.
