Ordinary General Meeting of UIB: Approval of Financial Statements and Dividend Distribution
During the Ordinary General Meeting (AGO) of the Union Internationale de Banques (UIB) held on April 26, 2024, in Tunis, the individual and consolidated financial statements as of December 31, 2023, were submitted for approval by the shareholders. The members of the Board of Directors also received a full discharge of their management for the 2023 financial year.
Kamel Néji revealed that the expected growth rate of the Gross National Product (GNP) is 7.5% for 2024. If this forecast is confirmed, it would represent a slight increase compared to the 2023 financial year. The Chairman of the Board of Directors added that the estimated result would be around 141 million Tunisian dinars (Mtnd), an increase of 11.3% year-over-year. The year seems promising, but it requires a more aggressive approach, focusing on conquering new customers.
The seasoned banker is convinced that 2024 could be the year of recovery in the retail market. He believes that interest rates, which have already reached a peak, will likely stabilize or decrease due to the easing of inflation.
During the AGO, Raoul Labbé de la Genardière, Director General of the credit institution, reviewed the bank's achievements, its Corporate Social Responsibility (CSR) policy, and its human resources development strategy, including e-recruitment, training programs for employees, and employer branding.
In his intervention, he also highlighted the various awards and certifications obtained by the bank in 2023, including the Energy Efficiency Award and the Best Local Depository in Tunisia.
Furthermore, the Assembly approved the proposal of the Board of Directors to distribute a dividend of 29.376 Mtnd, or 0.850 Tunisian dinars per share, starting from June 3, 2024. The shareholders also decided to renew the mandate of Kamel Néji as administrator for a period of three years, until the Ordinary General Meeting called to deliberate on the accounts of the 2026 financial year.
The AGO took note and accepted the resignation of Artes, represented by Lassaad Ben Ammar, from its administrator position. It appointed Assurances Maghrebia, represented by Habib Ben Hassine and Tahar Ben Hatira, as a member of the Board of Directors, and Karim Idrissi, Khaled Soudani, Rachid Tmar, Monia Saadaoui, and Catherine Zenoni-Humber as administrators representing minority shareholders.
The new administrators will exercise their functions until the Ordinary General Meeting called to deliberate on the accounts of the 2026 financial year.
