The Bank of Tunisia and the Emirates (BTE) more than doubled its losses in the first half of the current year to 12.8 million dinars, from 5 million at the end of June 2021, a widening of 157%.
The bank has suffered in the first half of the impact of the decline in net banking income but also the increase in the cost of risk and personnel costs.
Indeed, the NBI of the bank posted a decline of 16.5% to 28.7 million dinars.
This regression results from the combined effect of the decrease of operating income by 1% to 62 million dinars and the increase in operating expenses by 19% to 33.2 million dinars.
In addition, provisions increased by 12% to 16.2 million dinars, compared to 14.5 million in the first half of 2021. Similarly, personnel costs reached 18.2 million dinars (+7%) and now represent 63% of the bank’s net banking product. These personnel expenses are covered up to 73% by the bank’s net commissions.
Consequently, the half-yearly operating result of the BTE is negative by 12.7 million dinars, against a deficit result of 4.9 million in the first half of 2021.