The Central Bank of Tunisia (BCT) has just published its financial statements for the year ending December 31, 2019. These statements show a record Net Profit of 1.049 billion dinars, against 881.3 million dinars a year earlier, i.e. a growth of 19%.
This performance is mainly due to the surge in income from intervention operations on the money market from 1 billion dinars in 2018 to 1.2 billion at the end of last December.
Therefore, the total income in 2019 amounts to 1.45 billion dinars, against 1.24 billion the previous year.
In terms of expenses, they amounted to 410.2 million dinars, against 365.5 million dinars a year earlier, posting a rise of 12%.
Personnel expenses rose by 8% to 96 million dinars, representing 23.4% of the bank’s total expenses.
Gold bullion holdings increased by 56.6 million dinars to reach 567.7 million at the end of December 2019, explained by the evolution of the price of an ounce of fine gold.
Indeed, the price per ounce rose from USD 1,281.65 (or USD 41.21 per gram of fine gold) at the end of December 2018 to USD 1,523 (or USD 48.97 per gram of fine gold) a year later, thus compensating for the weakening of the dollar rate against the dinar, which fell by 6.5% from 2.996 to 2.803 from one year-end to the next.