The “Banque Internationale Arabe de Tunisie” (BIAT) has just published its activity indicators as of June 30, 2020.
The bank closed the first half with a NBP (Net Banking Product) of 466.3 million dinars, a slight growth of 3% compared to the same half semester last year.
This evolution is the result of a greater decrease in operating expenses than in revenues.
In fact, the latter fell by only 2.5% to 721.4 million dinars, while banking operating expenses fell by 11% to 255.1 million dinars.
For the second quarter, the bank’s NBP amounted to 224.3 million dinars, compared to 227.2 million during the same quarter of 2019, a very slight decline of 2.9 million dinars.
According to the bank, the results for the first half of 2020 should be in line with the continuity of the development pursued over the last few years, but the COVID-19 crisis has changed the situation.
Indeed, credit activity has slowed down while other non-bank income, such as foreign exchange activity, has also declined.
At the end of the first six months of the year, the bank’s outstanding deposits amounted to 12.84 billion dinars, while net credits reached 10.86 billion dinars.