The Bank of Tunisia and the Emirates (BTE) has published its financial statements for the year ending December 31, 2019 as they will be submitted to the approval of the Ordinary General Meeting to be held on April 22, 2019.
These statements show a net profit of 5.9 million dinars, compared to 0.9 million in 2018. The bank posted operating income of 110.6 million dinars, compared to 103.3 million a year earlier, a growth of 7%.
This income is mainly composed of interest in the amount of 81.2 million dinars and commissions in the order of 19.8 million.
These products are mainly composed of interest amounting to 81.2 million dinars and commissions in the amount of 19.8 million.
As for banking operating expenses, they increased from 53.7 million dinars to 57.3 million dinars between 2018 and 2019, posting an increase of 6.8%.
In this respect, the bank’s net banking income went up 7.3% in 2019, to 53.2 million dinars, compared to 49.6 million in 2018.
In addition, allocations to provisions on receivables increased from 12.5 million dinars to 10.9 million dinars, while personnel costs amounted to 27.2 million dinars, compared to 24.3 million dinars a year earlier.
The operating result therefore rose from 986 thousand dinars in 2018 to 6.3 million dinars at the end of last December.