Tunisian Banks Post Net Profits of 1.5 Billion Dinars in 2023, with 8% Earmarked for Interest-Free Loans
According to the latest report from the Central Bank of Tunisia (BCT), Tunisian banks achieved net profits of 1.5 billion dinars in 2023, up from 1.2 billion dinars in 2022, representing a 300 million dinar increase. This growth demonstrates the resilience of the banking sector despite challenging economic conditions.
A new government decree stipulates that 8% of these profits, approximately 120 million dinars, must be allocated to financing interest-free and unsecured loans, aimed at supporting individuals and businesses in difficulty. However, the implementation of this measure depends on the publication of an application text, initially expected in November 2024, but which has yet to be released, raising questions about the allocation modalities of these loans.
Meanwhile, some banks have been sanctioned by the BCT for non-compliance with regulatory ratios, with total fines amounting to 1.9 million dinars. This initiative reflects the Tunisian authorities' willingness to promote a more inclusive financial system, redirecting a portion of bank profits to support social and economic needs.
This measure is expected to provide significant support to small businesses and households in difficulty, while contributing to the country's economic recovery. However, the implementation of the application text will be crucial to ensure a fair and efficient distribution of these loans.
