The leasing company Arab Tunisian Lease (ATL), subsidiary of Arab Tunisan Bank (ATB), has more than tripled its profits in 2020, compared to 2019.
ATL Leasing has just published its closed financial statements as of December 31, 2020.
These statements show a net profit of 5.5 million dinars, against 1.7 million in 2019, a surge of 228%.
The company has achieved in 2020 a Net Leasing Product (NLP) of about 30.2 million dinars, against 28.1 million a year earlier, thus recording a growth of 7.2%. This development is mainly the result of the decline in net financial expenses.
Favored by a 30% decline in net allocations to provisions, the operating income of 2020 thus emerges up 164% to 9.6 million dinars, against 3.6 million in 2019.
In addition, the ratio of non-performing assets stood at December 31, 2020 at 9.57% against 9.45% in 2019, while the coverage ratio of non-performing assets by provisions and reserved agios stood at 73.13% against 70.92% at December 31, 2019.
The risk coverage ratio as it results from the ratio between the net core capital and the total risks incurred, amounts to 15.06% thus being above the minimum threshold set by the Central Bank of Tunisia, namely 7%.
The risk coverage ratio resulting from the ratio between net equity and total weighted assets, amounted to 18.72% thus standing above the minimum threshold set by the BCT, i.e. 10%, against 18.01% in 2019.