Tunisia’s Union Bancaire pour le Commerce et l’Industrie (UBCI) delivered a strong set of first-half 2026 results, supported by robust deposit collection and sustained demand for credit.
As of June 30, 2026, the bank’s net banking income (NBI) reached TND 193 million, up 10.1% year-on-year, confirming the resilience of its business model and the effectiveness of its growth strategy.
Double-digit growth in lending and deposits
The main driver of UBCI’s performance was strong commercial activity, underpinned by simultaneous growth in loans and customer deposits.
Net customer loans increased by 11.6% year-on-year, rising by TND 419 million to reach TND 4.032 billion at the end of June 2026. The increase reflects continued strong financing demand from both businesses and households.
Customer deposits also posted solid growth, reaching TND 4.271 billion, an 8.5% increase compared with June 30, 2025.
The rise was driven primarily by current account deposits, which grew 11.7%, and savings deposits, up 9.3%, highlighting renewed customer confidence in the bank.
Diversified funding strengthens financial resources
To support its expansion, UBCI also broadened its refinancing sources.
Borrowings and special funding resources surged 312.2%, rising from TND 49 million to TND 203 million over the past year.
The increase reflects targeted financing initiatives, including the issuance of two subordinated bond loans totaling TND 120 million, aimed at strengthening the bank’s capital structure, as well as the mobilization of a new TND 34 million special-purpose loan dedicated to financing sustainable economic projects.
Profitability supported by positive operating leverage
UBCI benefited from favorable operating leverage during the first half of the year.
Banking operating income rose 8.9% to TND 305 million, while banking operating expenses increased at a slower pace of 6.9%, reaching TND 112 million.
The stronger growth in revenues relative to costs drove the solid improvement in net banking income and points to continued gains in profitability.
Operating expenses remain under control
Operating expenses increased by 8.6% during the reporting period.
The rise was mainly attributable to personnel costs, which grew 12.7%, while general operating expenses remained virtually unchanged, increasing by just 0.2%.
The figures illustrate the bank’s ability to invest in its workforce while maintaining tight control over structural costs.
Stronger capital base
UBCI further reinforced its financial position during the first half of 2026.
Shareholders’ equity rose to TND 563 million as of June 30, 2026, compared with TND 523 million a year earlier, representing an increase of 7.6%.
Combined with the subordinated bond issues, the stronger capital base enhances the bank’s financial resilience and its capacity to support future business growth.
Driven by double-digit commercial expansion, diversified funding sources and disciplined financial management, the results confirm the strength of the growth trajectory UBCI has pursued since launching its “Emergence 2029” strategic plan.
