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Tunisia: Citibank Tunis announces a net profit of 25 million dinars in 2022

Citibank Tunis (Onshore branch) has published its financial statements as at December 31, December. These statements show a net profit of 25 million dinars, compared to 17.4 million a year earlier, an increase of 44%.

At the end of December 2022, the bank achieved an operating income of 73.7 million dinars, an increase of 27.6% due to the surge in gains on the commercial securities portfolio and similar operations of 55% from 26.2 million dinars to 40.8 million.

In fact, the balance of the commercial securities portfolio as of 31 December 2022 is 274.3 million dinars, recording an increase of 60.3 million dinars (+28%) compared to 2021. The commercial securities portfolio is mainly composed of assimilable Treasury bills (BTA) to the tune of 275.6 million dinars.

As for the interests, they have almost stagnated at 30.3 million dinars while the commissions (in income) have increased by 81% to 2.6 million dinars. In addition, the bank has well controlled its banking operating expenses which have almost stagnated at 16.8 million dinars against 16.2 million dinars at the end of December 2021.

Consequently, the net banking product (NBI) posted a strong increase of 37% from 41.5 million dinars to 56.9 million between December 2021 and December 2022. In addition, the operating result shows a 46% growth to reach 42.2 million dinars.

In addition, customer deposits and assets recorded a decrease of 11.8 million dinars as of 31 December 2022 compared to the previous year, i.e. a decrease of about 3%, to 446.8 million dinars, while customer receivables recorded a decrease of 42.8 million dinars compared to the end of 2021, i.e. a decrease of about 30%, to 100 million dinars.

This variation is mainly explained by the decrease in loans to customers of 37.5 million dinars (-29%).


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