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HomeNewsTunisia: STB announces net profit of 36 million dinars in H1

Tunisia: STB announces net profit of 36 million dinars in H1

The “Société Tunisienne de Banque” (STB) said Tuesday it has achieved a net profit of 35.8 million dinars in the first half of the current year against 21.8 million a year earlier, i.e. a growth of 64.4%.

At the end of the first six months of the year, the public bank saw its operating revenues explode by more than 85 million dinars (+ 30%) compared to the same period in 2017 to reach 380.6 million dinars.

This growth is mainly attributed to the increase in interest and similar income of 33.4% to 264.6 million dinars against 198.6 million at the end of June 2017. The gains on commercial securities portfolio also went up significantly in the first half (+ 26%) reaching 36.1 million dinars.

As for the income from the investment securities portfolio, they rose from 26.2 million dinars to 36.9 million between June 2017 and June 2018 recording a growth of 41%.

Operating expenses, for their part, increased by 44.3% from 118.9 million dinars in the first half of 2017 to 171.6 million at the end of last June, following a 44.4% rise in interest and similar charges amounting to 169.2 million dinars.

To this end, the Bank’s Net Banking Income (NBI) stood at 209 million dinars at the end of June against 174.7 million a year earlier, representing a growth of 19.6%.

The operating profit for the period thus shows a surplus of 39.5 million dinars against 20.1 million at the end of June 2017, i.e. an increase of 96%.

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