BNA Bank announced on Monday that its Board of Directors met on November 17, 2025, and decided to issue a subordinated bond loan titled “BNA Subordinated 2025-1” for an amount of 70 million dinars, which could be increased to a maximum of 100 million dinars, without recourse to a Public Offering, according to the following conditions:
Subscriptions and payments for this subordinated loan will be accepted starting December 1, 2025, at BNA branches and will be closed at the latest by December 19, 2025.
If the placed amount is less than 70 million dinars by the subscription period closing date, i.e., December 19, 2025, the subscriptions will be extended until December 26, 2025 while maintaining the single effective date for interest accrual.
The issuance of the subordinated bond loan “BNA Subordinated 2025-1” will allow the bank to strengthen its net equity and improve its risk concentration ratios, in accordance with the prudential rules issued by the Central Bank of Tunisia, particularly the requirements of circular No. 2016-03 dated July 29, 2016, to banks and financial institutions.
Indeed, the Central Bank of Tunisia’s circular to banks No. 91-24 dated December 17, 1991, concerning management rules and prudential standards applicable to banks and financial institutions, refers to subordinated loans to define supplementary funds, which are components of net equity.
These subordinated loans will only be taken into account annually for the calculation of supplementary equity up to the amount of outstanding principal and within the limits set by the aforementioned circular (namely 50% of the amount of core net equity).
