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Tuesday 21 March 2023
HomeNewsKarim Milad's TTS group reorganizes its BIAT portfolio

Karim Milad’s TTS group reorganizes its BIAT portfolio

March 1 was a special day on the stock market for Karim Milad, son of the late Aziz, whose group is the second largest shareholder in BIAT (13.14%) after the Mabrouk group (38.59%) and before the Tamarziste and Horchani groups.

On that day, three companies in the TTS group carried out operations to buy shares in BIAT. Those acquisitions totaled just over TND 5 million in one day. 

On the same day, however, another company in the group sold the whole package for a total of TND 5 million. 

Therefore, it was clear that these were only transactions within the group. The companies “Beach Hotel”, TTS and TTS Finances bought shares in BIAT from the company Rym of the same group of Karim Milad. That operation appears as a redistribution of BIAT shares between companies of the same group. Therefore, the composition of the shareholding of BIAT has not changed in proportion to the capital.

BIAT had a banking operating income of more than 1,867 MTD and an NBI of more than TND 1,263 million, at December 31, 2022, an increase of TND 248.5 million in a single year. 

The bank’s net result for the first half of 2022 showed a profit of TND 208,748 million.

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