Prepared in an economic context strongly impacted by the coronavirus pandemic, the financial statements of BH Bank for the year 2020 show a net profit of about 72.9 million dinars.
The restrictive regulatory measures as well as the effects of an economic activity strongly slowed down by the pandemic led to a decrease in operating income in 2020 by (-4%) in interests and (-7%) in commissions.
As for operating expenses, they fell from 667.9 million dinars in 2019 to 616.3 million at the end of last December, posting a decline of 8%. As a result, the Net Banking Product (NBI) comes out slightly up by 3% to 506.8 million dinars.
The annual profit of the bank comes out 48% lower than in 2019 and this, due to the combined effect of the increase in the cost of risk and expenses induced by exceptional items.
In fact, allocations to provisions for the year 2020 have been brought to 171.5 million dinars, from 68.5 million a year earlier, a surge of 150%.
They are composed of 180.6 million dinars as allocations to individual provisions (+60%), 32.9 million as allocations to additional provisions and 13.8 million allocations to collective provisions, against 0.6 million in 2019 and this, in application of the new calculation methodology enacted by BCT circular No. 2021-01.
As for expenses induced by exceptional items, they are related to the cyclical and social contribution (4 million dinars), the donation for the benefit of the 1818 Fund to fight against the coronavirus (11.4 million) and the cyclical contribution (6.5 million).