HomeNewsTunisia: 2.9% decline in NBI of 12 listed banks in H1 2020

Tunisia: 2.9% decline in NBI of 12 listed banks in H1 2020

The 12 listed banks realized a net banking income (NBI) of 2,283 MD during the first half of 2020, against 2,352 MD over the same period of the year 2019, i.e. a regression of 2.9%, according to the activity indicators evolution report of the 2nd quarter 2020, released by the Tunis Stock Exchange Tuesday.

The net income of the 7 listed leasing companies’ cumulated leasing companies, shrank by (-7.8%) during the first half of 2020, compared to the similar period in 2019, to 203 MD against 220 MD.

On the other hand, the 4 listed insurance companies increased their income with 470 MD of written premiums against 467 MD, i.e. a slight evolution of 0.6%.

In the Consumer Goods sector, the global income of the three major groups operating in the food-processing industry (Poulina Group Holding, Délice Holding and SFBT) slightly increased by 0.11% from 2212 MD to 2 215 MD.

However, the four car dealerships saw their global turnover regress significantly, by (-28.6%) during the first half of 2020 to stand at 366 MD, against 513 MD during the same period of fiscal year 2019.

In the Consumer Services sector, the global turnover of the two mass retail brands decreased by (-1.02%) during the first half of 2020 compared to the same period in 2019, to reach 762 MD against 771 MD.

Overall, revenues increased in eight sectors out of nine.

The “Telecommunication” sector achieved the strongest decrease with (-45.4%), followed by the consumer services sector with (-30.9%) and the “Industries” sector with (-29.3%), against a slight increase of (0.4%) for the consumer goods sector.

In the same trend, ten sub-sectors experienced negative performances. The strongest regressions were in travel and leisure with (-63.6%), basic materials with (-40.8%) and industrial goods and services with (-31.7%).

Only two sub-sectors recorded positive performances.

The best performance came from managerial products and personal care with (6.5%).

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