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Tunisia: BTS Bank improves profits by 57% to more than 9 MD in 2019

The BTS Bank published on Wednesday June 24, 2020 its financial statements for the year ending December 31, 2019.

It emerges that the net profit of the bank has increased by 57% to 9.2 million dinars, against 5.8 million in 2018, a growth of 3.3 million dinars.

This surge in profits is attributed to the growth in banking revenues at a higher rate than operating expenses.

In fact, operating revenues increased by 12.6 million dinars (+27.8%) to 58.1 million dinars, while operating expenses grew 0.8 million dinars (+15.9%) to reach 6.1 million dinars.

To this end, the bank’s net banking income rose by 11.8 million dinars (+29.3%) to 52 million dinars, against 40.2 million in 2018.

For its part, the operating result shows a surplus of 18 million dinars in 2019, compared to 11.1 million dinars one year earlier, a growth of 62%.

In accordance with the provisions of Article 39 of Law No. 2019-78 of 23/12/2019 relating to the finance law for the year 2020, the BTS has established a social solidarity contribution for the benefit of the State budget in the amount of 706 thousand dinars.

This contribution corresponds to 3% of the Bank’s profits serving as a basis for the calculation of the tax on companies.

Moreover, the total outstanding principal amount granted from regular resources reached 150.1 million dinars, as of 31 December 2019, while the amount of unpaid interest on these credits amounts to 19.6 million dinars.

As for unpaid principal granted from special resources, they reached 216.4 million dinars, while unpaid interest on these credits amounted to 22.2 million dinars.

In this respect, the provisions made on unpaid credits whose final risk is borne by the bank, amount to 45.7 million dinars at the end of the year 2019.

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