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HomeNewsTunisia: BNA Bank makes profit of more than 71 MD in H1

Tunisia: BNA Bank makes profit of more than 71 MD in H1

The “Banque Nationale Agricole” (BNA Bank) has published its interim financial statements as at June 30, 2019.

These statements show a net profit of the period of 71.5 million dinars, against 89.9 million a year earlier, i.e. a decrease 20.5%.

For the first six months of the year, revenues amounted to 623.7 million dinars, against 493.4 million a year earlier, up 26.4%.

This increase results from the growth of 30.4% of interest to reach 502.5 million dinars, 14.2% of commissions to 56.9 million, 26.5% of gains on commercial securities portfolio to 16, 5 million and 6% of investment portfolio income to 47.7 million.

On the other hand, operating expenses increased at a faster pace than revenues totaling 317.8 million dinars, compared with 237 million at the end of June 2018, i.e. an increase of 34.1%.

This increase bears the mark of the rise in the interest incurred by 34.4% to reach 316.5 million dinars.

In this respect, half-year net banking income rose 19.3% to 305.9 million dinars, compared with 256.4 million in the first half of 2018.

However, operating income was down 16.8% from 105.5 million dinars at the end of June 2018 to 87.7 million at June 30th.

This decrease is due to the increase in provisions to 13.8% to 68.3 million dinars and the increase in personnel costs of 16.4% to 107.3 million dinars.

Taking into account a tax expense on profits of 16.2 million dinars, up 65%, net profit fell by 20.5% in the first half, from 89.9 to 71.5 million dinars between June 2018 and June 2019

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