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Friday 17 September 2021
HomeNewsTunisia: STB Bank announces net profit of 60 MD in H1

Tunisia: STB Bank announces net profit of 60 MD in H1

The Société Tunisienne de Banque (STB) announced very good numbers in the first half.

Net Profit for the period rose by 21.2% to 60.4 million dinars, from 49.8 million a year earlier.

This growth is marked by the sharp rise in Net Banking Income (NBI), which rose 34.2% to 280.5 million dinars, against 209 million in the first half of 2018.

Banking operating income for the period amounted to 496.5 million dinars at the end of last June, against 380.6 a year earlier, up 30.4%, due to the increase in interest and similar income by 42% to 376.2 million dinars.

As for operating expenses, they rose from 171.6 million dinars at June 30, 2018 to 216 million at the end of last June, i.e. an increase of 25.8%.

Therefore, operating income posted a sharp increase of + 119% to 86.5 million dinars in the first half, against 39.5 million a year earlier.

In addition, personnel costs rose from 65.9 million dinars to 78.5 million between June 2018 and June 2019, i.e. an increase of 19%, while the corporate tax expense reached nearly 28 million dinars, against 12.3 million at the end of June last year.

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