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Tunisia: net banking income of UIB up 6% in H1

After the first half of 2014, indicators of activity and performance of the “Union Internationale de Banques” (UIB) indicate a 6% increase in net banking income which reached 94.7 million Tunisian dinars (MTD) at June 30, 2014, against 89.3 MTD at June 30, 2013, according to broker, Mena Capital Partners (MCP).

This increase is due to the combined effect of the growth in interest margin and the increase in the margin on fees received, said MCP.

Moreover, deposits -any types of clients alike-were up 13% to 3,165.5 MTD to June 30, 2014 against 2,800.9 MTD until June 30, 2013.

Thus, net outstanding loans to customers increased by 11.2% to reach at 30 June 2014, an amount of 3,324.4 MTD against 2,988.7 MTD at the end of June 2013.

Outstanding loans and special resources, meanwhile, reached 316.8 MTD to June 30, 2014 against 350.3 MTD in late June 2013.

This change is explained by the repayment of 23.1 MTD on maturities of bonds issued by the UIB in July 2009, September 2011 and December 2011.

The interest margin reached 60.2 MTD to June 30, 2014 against 58.4 MTD to June 30, 2013, up 3.1% due to lower margins of intermediation resulting from new regulatory and cyclical conditions.

Margin on fees received increased by 14.7% from 23.7 MTD at the end of June 2013 to 27.2 MTD at the end June 2014.

Personnel costs amounted to 34 MTD at June 30, 2014 against 34.7 MTD in June 30, 2013, down 1.8%.

The operating expenses (staff costs, general operating expenses) reached 43 MTD to June 30, 2014 against 43.5 MTD to June 30, 2013, down 1.1%.

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