The overall net income of factoring companies improved by 9% to reach 11 million dinars (MD) for the fiscal year 2024, according to the Annual Report on Banking Supervision for 2024, published on Saturday by the Central Bank of Tunisia (BCT).
Indeed, net factoring income grew by 12.4%, or 2.9 MD, in 2024, reaching 27 MD, the same source specified. It added that this income is derived 61% from the net interest margin, 32% from net commissions, and 7% from net gains on the securities portfolio.
This net factoring income was allocated to cover operating expenses (34.3%), credit risk (7.4%), and corporate income tax (12.7%).
However, the activity of factoring companies recorded a clear decline in the 2024 fiscal year, with a 28% decrease in the outstanding amount of financing (compared to an 11.8% increase in 2023), settling at 233 MD.
On the funding side, the year 2024 was marked by a 35% decrease (57 MD) in borrowings, primarily mobilized from banks.
The structure of resources highlights the significance of certificates of deposit, which represent 61.9% of total resources, followed by bank funding (26.7%) and bond borrowings (11.4%).
