Wifak International Bank Convenes Ordinary General Meeting
Wifak International Bank has convened its shareholders to an ordinary general meeting on Friday, April 24, 2026. According to the draft resolutions, the net profit for 2025 stood at 8,318 MTND. The stock of negative carried-over results has fallen below 6 MTND, and we believe that the bank could finally turn this page by the end of the current fiscal year. Dividend distribution could also be possible after two years, rewarding shareholders who have accompanied the transformation of the credit institution from a leasing company to a bank.
Key Resolutions
One of the major resolutions of this ordinary general meeting concerns the creation of a specific financing line. In accordance with Article 412 (new) of the Commercial Code, the Assembly decides to allocate 8% of the 2025 profits, approximately 0.665 MTND, to finance small and medium-sized enterprises. This measure, which will come into effect as soon as the government decree fixing the conditions and criteria for granting financing is published, is part of the bank's desire to support the local entrepreneurial fabric.
Issuance of Islamic Bonds
Shareholders will also need to authorize the issuance of one or more Islamic bond loans, or sukuk, with a total amount of 150 MTND, to be mobilized over a period of three years.
Changes to the Board of Directors
The ordinary general meeting also notes two changes within the board of directors, including the acceptance of the resignation of Mohamed Hédi Ben Ayed, presented on June 19, 2025. There will be the appointment of a new administrator for the remaining term of the mandate, which expires at the ordinary general meeting ruling on the accounts of the 2027 fiscal year.
