Amen Bank closes the fiscal year 2022, for which it publishes the balance sheet, with a profit that is more than TND 25 million higher than the previous year (YOY). The bank’s net result, or net profit for 2022, rose from TND 129,655 million in 2021 to TND 156,733 million last year. A result that already has its source in the increase in total operating income by more than TND 111 million year-on-year, an NBI that has increased by more than TND 40.6 million, despite the increase in operating expenses, bringing the total to TND 179.456 million in operating income, and also despite the TND 118.5 million in allocations to provisions. The Bank therefore combines prudence (provisions) with good management of its profitable resources. Good news also for the holders of Amen Bank shares, the result per share has increased by one dinar, from 4.896 TND in 2021 to 5.849 TND per share at the end of 2022.
The various ratios of Amen, comfortably certified by the stock exchange intermediary Mac Sa, show that deposits and assets of customers posted a balance of TND 6,990,819 million as of December 31, 2022 against a balance of TND 6,343,825 million, as of December 31, 2021, which is a sign of confidence of customers and depositors of money.
Another good sign is that time deposits are growing faster (+17%) than sight deposits (+4%). Savers also clearly trust Amen, increasing their savings deposits by 10%, which will exceed TND 2.2 billion at the end of 2022. One bank even attracts foreign currency deposits, and the trend was upward (+44%) compared to the previous year. It should also be noted that at the end of 2022, Amen Bank had almost TND 7 billion in miscellaneous deposits, which represents as many resources at a lower cost than the market.
Forthcoming capital increase with free shares
Amen Bank also announces its intention to increase its share capital by TND 42,195 million to TND 174.6 million. The information is contained in the draft resolutions of the Extraordinary General Assembly (EGA) published on the Tunis Stock Exchange website on Wednesday.
“This increase would be carried out in two stages. The first concerns an initial capital increase of up to MD 18,915 through the incorporation of reserves and the issue of 3,783,000 new shares with a nominal value of 5 dinars each. These shares will be allotted free of charge to the holders of the 26,481,000 old shares at the rate of 1 free new share for 7 old shares, bringing the capital to TND 151.32 million. This first phase will take place during the 2023 financial year, with a dividend date of January 1, 2023.
As for the second phase, it consists in increasing the capital up to TND 23,280 million through the incorporation of reserves and the issue of 4,656,000 new shares with a nominal value of 5 dinars each. These shares will be allotted free of charge to the holders of the 30,264,000 old shares at the rate of 2 free new shares for 13 old shares, bringing the capital to TND 174.6 million.
This second phase will take place during the 2024 financial year, with a dividend date starting on January 1, 2024. It should be noted that this proposal will be examined for approval or not at the EGM to be held on 27 April 2023.
Wahra, Sesame and AmenPay to encourage cash withdrawals
It should also be noted that Amen Bank, the Tunisian private bank voted “Best Customer Service 2023”, has signed a partnership with the Aziza supermarkets of the Ali Slama & Fils group. The bank said in a press release that it is “one of the most important retail chains in Tunisia” and specified that “this partnership aims to strengthen the proximity between Amen Bank and its customers by offering them a 100% Tunisian mobile payment solution and a simple, fast and accessible shopping experience for all. In this context, Amen Bank is providing special promotional offers to customers using AmenPay to make purchases in all Aziza stores. The AmenPay mobile payment solution is based on “QR Code” and “NFC” technologies for purchase operations, and complies with international security standards.
As an operator of digital transition and decashing, Amen had also announced its “Sesame Card, the ideal card for shopping enthusiasts, the card that allows you to make your purchases even online, from home. It is a national electronic card that allows you to consult your balance and account movements in real time. No need to carry a chequebook or bulky notes in your wallet, thanks to Amen Bank’s Visa cards, you can make ATM withdrawals and payments in Tunisia or abroad (with the international version) and enjoy a wide range of benefits. In addition, Amen Bank’s “Wahra” card allows you to pay for all your purchases with a credit balance and to benefit from a revolving credit line equal to 8 times your monthly income, with a maximum of TD 10,000. The Wahra card also allows making ATM withdrawals.