Tunisie Leasing & Factoring: 2024 Financial Results and Dividend Proposal
The Board of Directors of Tunisie Leasing & Factoring has approved the individual and consolidated financial statements as of December 31, 2024. The social accounts show a net income of 24,818 MTND, representing a 2.07% year-over-year increase. As for the consolidated financial statements, the net profit reached 37,470 MTND, a 32.8% improvement compared to 2023.
According to the latest activity indicators, the Net Leasing Product decreased by 1.1% to 74,405 MTND. Operating expenses increased by 7.4% to 34,009 MTND. Considering the fact that the tax rate has also increased, the improvement can only come from the reduction of risk costs. The ratio of classified claims gained 102 basis points to 8.64% by the end of 2024. Already, in the first half of the year, the risk cost was only 0.726 MTND.
The Board has decided to convene an Ordinary General Meeting on April 28, 2025, and to propose to shareholders the distribution of a dividend of 1,150 TND per share, subject to the approval of the Central Bank of Tunisia. For reference, last year, the company distributed 1,100 TND per share. The increase is therefore in line with the pace of profit growth.
On the market, the stock has achieved a return of 5.61% since the beginning of the year. The proposed dividend ensures, at today's closing price, a net yield of 5.4%. Tunisie Leasing & Factoring remains the market leader, and its good results are a good sign for the entire sector. This is another financial institution that confirms that the financial industry is capable of generating profits even in a challenging environment.
