Union Internationale de Banques (UIB) Holds Ordinary General Assembly (AGO)
On April 26, 2024, the Union Internationale de Banques (UIB) held its Ordinary General Assembly (AGO) in Tunis, where the individual and consolidated financial statements as of December 31, 2023, were submitted for approval. The members of the Board of Directors received a full discharge of their management for the 2023 exercise.
Economic Outlook
Kamel Néji, President of the Board of Directors, announced that the expected growth rate of the Gross National Product (GNP) is 7.5% in 2024, which would represent a slight increase compared to 2023. He also anticipated a net result of 141 million Tunisian dinars (MTND), an increase of 11.3%. Néji expressed optimism about the market, stating that 2024 could be the year of recovery for the retail market, as interest rates, which have already peaked, are likely to stabilize or decrease due to the easing of inflation.
Review of Achievements
Raoul Labbé de la Genardière, General Manager of the UIB, reviewed the bank's achievements, including its Corporate Social Responsibility (CSR) strategy, human resources development, e-recruitment, and employer branding. He also highlighted the various awards and certifications obtained by the bank in 2023, such as the Energy Efficiency Award and the Best Local Depository in Tunisia.
Resolutions
The Ordinary General Assembly approved the proposal of the Board of Directors to distribute the net profit of the 2023 exercise, amounting to 126,616,624.324 Tunisian dinars (TND), plus a positive carryover of 866,845,351 TND, making a total distributable profit of 127,483,469,675 TND. The distribution will be as follows:
- Distributable profit: 127,483,469,675 TND
- Reserve for reinvestment: 22,685,000,000 TND
- Ordinary reserve: 70,000,000,000 TND
- Social fund: 1,000,000,000 TND
- Dividends: 29,376,000,000 TND
- Carryover: 4,422,469,675 TND
The dividend payment date is set for June 3, 2024, at 0.850 TND per share.
Board of Directors
The Ordinary General Assembly renewed the mandate of Kamel Néji as administrator for a period of three years, until the next Ordinary General Assembly in 2026. The Assembly also accepted the resignation of Artes, represented by Lassaad Ben Ammar, from its administrative functions.
The Assembly appointed Assurances Maghrebia, represented by Habib Ben Hassine and Tahar Ben Hatira, as administrators, as well as Karim Idrissi, Monia Saadaoui, Khaled Soudani Rachid Tmar, and Catherine Zenoni-Humber as independent administrators. These administrators will serve until the next Ordinary General Assembly in 2026.
The Assembly also allocated 325,000 dinars to the Board of Directors as attendance fees for the 2023 exercise.
