Growth continues at BH Bank in the first half of this year. The state-owned bank saw its banking products rise by +113 million dinars to 554.7 million dinars, against 441.6 million a year earlier, up 25.6%.
The increase results from the + 34% rise in interest and similar income, rising from 328.9 million dinars at the end of June 2018 to 439 million until June 30. Commissions amounted to 53.5 million dinars recording an increase of 8%.
While the gains on the commercial securities portfolio stagnated at the level of 29.2 million dinars, the income of the investment portfolio shows a fall of -4.2% to 32.9 million dinars.
As for operating expenses, they reached 329.7 million dinars, against 236 million during the first six months of last year, a surge of + 39.7%, due to the rise in interest incurred.
To this end, the Net Banking Income (NBI) of the period is up + 9.5% to 225 million dinars against 205.5 million a year earlier.
Taking into account the corporate tax charge of 28.1 million dinars (+ 23%), the BH Bank reports a net profit of 61.5 million dinars in the first half of the year, against 57.7 million at the end of June 2018, up 6.6%.