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HomeNewsTunisia: BFPME accumulates 108 million dinars of net losses at end 2020

Tunisia: BFPME accumulates 108 million dinars of net losses at end 2020

The BFPME (Bank for Financing Small and Medium Enterprises) has just convened its shareholders to the Ordinary and Extraordinary General Meetings to be held on November 29, 2022 to rule on the accounts of 2020 and approve the non-dissolution of the bank.

Indeed, the BFPME had recorded at the end of the year 2020 a negative net result of 12.3 million dinars against a net loss of 4.1 million dinars in 2019. The BFPME whose operating result, even before the cost of risk, is structurally negative, thus brings its net results carried forward to December 31, 2020 to 108 million dinars.

With a capital stock of 100 million dinars, the bank has, since its inception in 2005, eaten all its initial capital (50 million dinars increased to 100 million dinars in 2009), showing a negative situation of 6.6 million dinars (equity) at the end of the year 2020.

The capital of the BFPME is held in full by the public sector divided between the Tunisian state (60%) and state enterprises: GCT (22%), Tunisie Telecom (10%), OACA (6%) and OCT (2%).

 The agenda of the Extraordinary General Assembly, to be held on November 29, 2022, includes the decision of the non-dissolution of the BFPME.

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