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Tunisia: Attijari Bank sees net income rise 11.6% to nearly 145 million dinars

According to the results of the Moroccan banking group AttijariWafa Bank which have just been published, the Tunisian subsidiary, Attijari Bank, achieved a net profit up 11.6% in 2018 to 144.9 million dinars against 129.75 million dinars. dinars in 2017.

The bank’s operating ratio stood at 42.8% excluding common fund charge guarantee, minimum return on equity of 29.6% and a return on assets of 1.7%.

Customer deposits increased 759 million dinars, or 12.6% at 6.67 billion dinars. The bank’s credits increased by 233.3 million dinars, equivalent to 4.5%, i.e. at lower rate than deposits. The outstanding credits of the bank as they appear in the documents amount to 5.439 billion dinars.

Given the faster rise in deposits compared to loans, the bank posted an (apparent) ratio of Credits / Deposits of 80.5% at the end of 2018, against 87% at the end of 2017.

At the end of December 2018, the bank holds a market share of 11.2% for deposits of 11.2% and 8.5% for loans.

Attijari Bank Tunisia contributed 5.1% to Attijariwafa Bank’s result. The Tunisian subsidiary (controlled by 58.98%) increased its contribution in the parent company’s net banking income by 1.8% (+ 15.2% at constant exchange rates) as well as its contribution to the group net income of Attijariwafa Bank by 8.7%. This contribution would be up + 23% at constant exchange rate.

In addition, the AttijariWafa Bank Group had integrated Attijari Assurances Tunisie into its consolidation scope in 2018.


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