STB Announces Q1 2025 Results: Net Banking Income Reaches 167,370 MTND
The Société Tunisienne de Banque (STB) has announced a net banking income (PNB) of 167,370 MTND for the first quarter of 2025, representing a 4.7% year-over-year increase.
Interest Margin Contracts, but Non-Interest Income Rises
The interest margin has significantly decreased from 32.8% to 42,848 MTND. Despite a stable loan portfolio and unchanged interest rates, interest income has declined. This is likely due to the revision of fixed-rate loan terms, which comply with Article 412.
However, this contraction was offset by net commission income from products amounting to 29,644 MTND and, more notably, revenue from securities portfolios (commercial and investment) totaling 94,878 MTND.
Operating Efficiency Improves, Costs Under Control
The bank's operating coefficient stood at 48.34% at the end of the first quarter, down from 51.63% the previous year. Operating expenses decreased by 1.9% to 80,913 MTND, demonstrating the bank's efforts to control costs and support profitability in a challenging sector.
Loan Portfolio Shrinks, Deposits Increase
The STB has recorded a decline in its loan portfolio since the beginning of the year, amounting to 144,106 MTND. Conversely, deposits have seen a net increase of 110,260 MTND.
New Approach Prioritizes National Economy Over Profitability
In line with the new approach for credit institutions, the STB's mission is to support the national economy, even at the expense of higher profitability. The 2024 results were positive, and the bank is working on strengthening its equity. The priority should be to consolidate the STB's fundamentals and preserve asset quality.
