ABC Bank Tunisia, a subsidiary of the Bahrain-based ABC Bank Group continues to expand its branch network is expected to reach 16 units by the end of 2016, after being reinforced by four new branches in 2015, according to a statement issued Tuesday by the Bank.
The onshore subsidiary and offshore branch of ABC Bank have achieved an operating profit of 34.4 million dinars, well above the 26.5 million dinars achieved in 2014.
This increase is mainly attributable to the development of the portfolio of assets and treasury activities and an increase in fees and commissions. The net income stood at 12.8 million dinars in 2015 against 11.1 million dinars in 2014″.
“The growth in operating income was achieved through the progressive development of the loan portfolio to business and individuals, the expansion of international trade and treasury activities and harmonious growth of fee income and commissions. In ABC Bank we remain optimistic about the future and determined to implement our strategy “, said Ali Kooli, CEO of ABC Bank in Tunisia.
“We continue to develop our customer base, both in the business market and that for individuals. We recently opened our 14th branch in the country. This will help us to broaden our customer base and better serve our existing and new customers”, explained Mr. Kooli.
The ABC Bank Group is an international bank leading on its market segment. The ABC Bank Group is present in the MENA region, Europe, Asia, the USA and Brazil and provides comprehensive financial products and innovative services including corporate finance, financing of international trade transactions, project financing, structured financing, raising funds on the capital markets, bank syndications, treasury products and Islamic finance. The ABC Group Bank also offers private banking in Jordan, Egypt, Tunisia and Algeria.
ABC Bank is listed on the Bahrain Stock Exchange. It has more than 1,300 shareholders, the Central Bank of Libya and the sovereign funds of Kuwait (Kuwait Investment Authority) being the majority shareholders.