At the close of the 2024 financial year, Citibank Tunis recorded banking operating income of 102.7 million dinars, up from 89.9 million dinars in 2023, an increase of 14%.
This growth was driven by a combined rise in interest and similar income as well as commission income.
Specifically, interest and similar income rose by 29%, fueled by a 24% increase in interest from transactions with banks and financial institutions, an 11% rise in interest from customer transactions and an 86% surge in income from placements with the Central Bank of Tunisia (BCT).
Meanwhile, commission income grew by 5%, reaching 2.1 million dinars. However, gains on trading securities and financial operations remained nearly flat at 44.3 million dinars.
On the expense side, banking operating expenses jumped 54%, from 25.4 million dinars at the end of 2023 to 39.1 million dinars by the end of 2024.
As a result, net banking income for the year saw a slight decline of 1.5%, settling at 63.5 million dinars, compared to 64.5 million dinars in 2023.
Bottom line: the bank posted a net profit of 27 million dinars in 2024, marking a 10.9% increase from the 24.4 million dinars reported in 2023.
