The “Banque Nationale Agricole” (BNA Bank) has just published its financial statements for the year ended December 31, 2020. These statements show a net profit of 102.3 million dinars, compared to 123.4 million a year earlier, a decline of 17%.
At the end of the past year, the bank achieved 1.39 billion dinars in operating income, against 1.32 billion in 2019, posting a growth of 4.9%. By department, interest increased by 4.5% to 1.12 billion dinars, commissions went up by 15.3% to 146.2 million dinars, income from the investment portfolio posted a rise of 3.4% to 99.2 million dinars, while gains on commercial securities portfolio and financial operations fell by 20.4% to 22.8 million dinars.
Operating expenses have, for their part, increased by 4.4% from 670.5 million dinars in 2019 to 700 million at the end of last December and this, due to the rise in interest incurred by 4.3% to 695.5 million dinars. As a result, the Net Banking Income (NBI) emerges up 5.4% to 690 million dinars, compared to 654.3 million in 2019.
The bank saw its allocations to provisions on receivables increase by 72% to 220.7 million dinars in 2020, against 128.5 million under 2019, up 92.2 million. These allocations are divided between allocations to provisions for individual bad debts (151.8 million dinars), allocations to additional provisions (55.2 million) and allocations to collective provisions (46.5 million).
In fact, the BNA has constituted provisions of a general nature known as “Collective Provisions” in order to cover the latent risks on current commitments (class 0) and those requiring a particular follow-up (class 1).
Thus, the balance of the collective provision recorded by BNA amounts to 129.2 million dinars as of December 31, 2020.
At the end of the past year, BNA shows a liquidity ratio of 142.79%, a solvency ratio of 19.8% and a Tier One ratio of 15.4%.