Banque de Tunisie (BT) has distinguished itself by winning The Banker magazine’s award for Bank of the Year in Tunisia for 2024.
This award reflects the bank’s focus on product innovation, illustrated by the launch of a new factoring solution, and its commitment to driving digital transformation through a new innovation lab, according to the magazine.
As part of its strategy to diversify its product portfolio, Banque de Tunisie has launched a factoring solution aimed at meeting the working capital needs of businesses, with a particular focus on small and medium-sized enterprises.
Known as BT-Factoring, the solution is easy to implement and can use digital channels to process invoice remittances. According to Banque de Tunisie, the product is well suited to meet the needs of Tunisia’s smallest businesses, which can facilitate financial inclusion.
Meanwhile, the bank has also developed a new innovation hub called BT Labinnov, which aims to encourage internal talent to develop a culture of excellence in the pursuit of digital transformation. The long-term goal is to position innovation as an independent growth driver for the business.
Banque de Tunisie has also implemented a new business strategy, which includes an organizational overhaul that segments its operations into two distinct markets: retail banking and corporate banking.
The lender claims that this segmentation has been beneficial in terms of targeting the needs and expectations of specific customer groups.
In 2023, the bank reported net profit growth of 2.4%, while total assets and Tier 1 capital increased by 7.1% and 8.2% respectively.
