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Tunisia: STB Bank improves its NBI by 26% to nearly 600 MD in 2019

The “Société Tunisienne de Banque” (STB) said it had realized in 2019 a net banking income (NBI) up 125.3 million dinars (+26.5%) compared to the end of December 2018, to 599 million dinars.

This strong growth results from the effect of the increase in Banking Operating Income (+196.6 million dinars or +23.2%) to 1.04 billion dinars and the rise in Banking Operating Expenses (+71.3 million dinars or +19.1%), which amounted to 444 million dinars.

Customer deposits recorded an increase of 1 billion dinars (+16%) between December 2018 and December 2019 to reach an outstanding amount of 7.37 billion dinars.

This progression is due to the rise in sight deposits by 9% to 2,635.4 million dinars, savings deposits by 9% to 3 billion dinars, and term deposits by 45.5%.

Borrowing resources amounted to 312.3 million dinars at the end of December 2019, up 27.5 million dinars (+9.6%) compared to their level at the end of December 2018 (284.8 million dinars).

Net loans to customers (excluding the allocation to provisions relating to the fourth quarter 2019) increased by 751.8 million dinars (+10.5%) to 7.88 billion dinars at the end of the fourth quarter 2019, compared to 7.13 billion a year earlier.

The commercial securities portfolio reached an outstanding amount of 338.7 million dinars, an increase of 5.1% while the investment securities portfolio recorded a slight decrease of 0.85% to 1.14 billion dinars at the end of December 2019.

The cost/income ratio improved by 7.69 percentage points to 36.64% at the end of 2019.

With regard to the outstanding debt, it has slightly decreased compared to the end of December 2018 from 1.09 billion dinars to 965 million dinars.

Nevertheless, financial charges continue to grow to reach 28.2 million dinars, against 20.5 million a year earlier.

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