Ubci Reports Positive Growth in Q1 2024

At the end of the first quarter of 2024, the quarterly activity indicators of Ubci highlight a positive evolution of 7.73% in customer deposit balances, reaching 3494 million dinars compared to 3243 million dinars as of March 31, 2023.

This ability to attract new resources has contributed to the strengthening of Ubci's financing capacity, with customer loan balances (net of provisions and reserved interest) increasing by 5.74% compared to March 31, 2023, representing an additional 172 million dinars to reach 3165 million dinars.

This credit growth was achieved while preserving the quality of Ubci's portfolio, with a perfectly controlled rate of non-performing claims and a high provisioning coverage ratio, positioning Ubci among the healthiest banks in the market.

As of the end of the first quarter of 2024, Ubci's net banking income stands at 75 million dinars, showing a slight increase compared to the same period in 2023.

Operating income reached 122 million dinars, up 11% compared to March 31, 2023.

On the other hand, operating expenses amounted to 47 million dinars, compared to 36 million dinars as of March 31, 2023, representing a 30.8% increase, mainly due to the rise in interest expenses and similar charges.

During the first quarter of 2024, Ubci continued to actively pursue its strategic restructuring and transformation projects, including the overhaul of its information system.