HomeNewsTunisia: STB Bank achieves profit of 81 million dinars in 2022

Tunisia: STB Bank achieves profit of 81 million dinars in 2022

STB Bank has just published its financial statements as at December 31, 2022, which will be submitted for approval to the Ordinary General Meeting to be held on April 28, 2023.

These accounts show a net profit of 81.5 million dinars, compared to 104 million dinars in the previous year, a decrease of about 21%.

This drop in profit is mainly due to the sharp increase in risk costs. Indeed, provisioning rose by 56% from 138.2 million dinars in 2021 to 216.5 million dinars at the end of December last year.

However, the bank saw its net banking income (NBI) increase by 7% to 689.4 million dinars, compared with 646 million in 2021. This development is the result of the combined effect of the increase in operating income by 14.6% to 1.28 billion dinars and the growth of banking operating expenses by 25.5% to 594 million dinars.

In addition, personnel expenses went up by 8.5% to 195 million dinars, compared to 180 million dinars in the previous year, while general operating expenses increased by 11.6% to 99 million dinars.

As a result, the operating result showed a surplus of 173.6 million dinars, compared to 227.8 million dinars at the end of December last year, a decrease of 24%.

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