Banque Internationale Arabe de Tunisie – BIAT – has just published its financial statements for the year ended December 31, 2023, which will be submitted to the General Meeting of Shareholders on April 26, 2024 for approval.
These accounts show a net profit of TND 331.4 million, compared with TND 299.7 million the previous year, an increase of 10.6%.
In 2023, the Bank generated income from banking operations of TND 2.15 billion compared to TND 1.87 billion in 2022, an increase of about 15%, including TND 1.4 billion in interest and similar income, TND 295.7 million in income from the investment portfolio and TND 260.5 million in commissions.
Operating expenses will increase by 25.8% between 2022 and 2023, from TND 603.7 million to TND 759.5 million. As a result, net banking income will be TND 1.4 billion, compared to TND 1.26 billion at the end of December 2022.
In addition, allocations to provisions decreased from TND 283 million to TND 235.7 million, while personnel expenses increased from TND 262.4 million to TND 296.8 million.
As a result, operating income for the financial year 2023 went up by 20.8% to TND 590.7 million, compared to TND 489 million at the end of December 2022.
In addition, the consolidated financial statements of the BIAT Group show a net profit (Group share) of TND 358.6 million, compared to TND 312.4 million in 2022, representing a growth of 14.8%.
