AfricanManager
The Arab Tunisian Bank (ATB) has just published its financial statements for the year ended December 31, 2023, which will be submitted for approval at the Annual General Meeting to be held on April 27, 2024.
The accounts show a net loss of 9.4 million dinars, compared with a profit of 11.4 million dinars in 2022.
This underperformance was mainly due to the sharp increase in provisions, which rose from 69.8 million dinars in December 2022 to 124.1 million dinars last December, up 77.7%.
However, the bank’s net banking income increased by 11.7% to 357.3 million dinars from 319.7 million dinars a year earlier.
This was due to the combined effect of a 15% increase in operating income to 763.3 million dinars and an 18% increase in operating expenses to 406 million dinars.
Personnel expenses amounted to 132 million dinars, while general operating expenses totaled 80 million dinars.
This resulted in an operating loss of 6.2 million dinars, compared to an operating profit of 22.3 million dinars in the previous year.
