UIB has published its interim accounts as at June 30, 2024. These statements show a net profit of 33.2 million dinars, compared to 57.7 million dinars at the end of June 2023, a decrease of 42%.
This decrease is the result of the settlement discussed with the tax authorities to close the in-depth tax audit case relating to the financial years 2019-2020, 2021 and 2022. The settlement resulted in a final payment of 20.7 million dinars.
On December 22, 2023, the Bank was notified of an in-depth tax audit relating to various taxes, duties and fees for the period 2019 to 2022.
In the first half of the current year, the bank generated net banking income of 267 million dinars, compared to 255.8 million dinars at the end of June 2023, an increase of approximately 4%.
In addition, risk costs increased from 28.7 million dinars to 32.4 million dinars between June 2023 and last June, while staff costs increased from 93.9 million dinars to 99 million dinars.
As a result, operating profit for the first half of the year was virtually unchanged at 98.3 million dinars, compared with 99.5 million dinars last year.
