Zitouna Bank achieved a record net profit of 81 million dinars for the year 2023, according to the bank’s financial statements, which will be submitted for approval to the Ordinary General Meeting on April 25, 2024.
These statements show a recovery in gross customer financing of 8.9% to 5,233 million dinars, an increase of 428.6 million dinars.
This momentum was also supported by the collection of deposits. These increased by 8.2% to 5,504 million dinars, representing a net collection for the year of 417.1 million dinars, boosted by an increase in savings deposits of 310.7 million dinars.
The Group’s subsidiary MAJDA Tunisia achieved NBI of 352 million dinars in 2023, compared with 322.3 million dinars in 2022, an increase of 29.7 million dinars (+9.2%), boosted by the good performance of the profit margin of 27.4 million dinars (+11.9%).
Operating expenses increased by 22.2 million dinars (+12.1%) to 206.2 million dinars.
At the same time, allocations to loan loss provisions increased by 8.1 million dinars (+20%) to 48.5 million dinars.
Finally, the Bank achieved a record net profit of 81 million dinars, compared with 70.4 million dinars in the previous year, an increase of 15.1% (+10.7 million dinars).
