Union Bancaire pour le Commerce et l’Industrie (UBCI) has just published its financial statements as at December 31, 2022, which will be submitted for approval to the Annual General Meeting on 26 April.
Following its transfer to the CARTE Group, UBCI’s activities have shown a dynamic recovery, resulting in record profits.
The results achieved over the past year are encouraging and positive signals that give rise to greater optimism for the years to come.
The Bank increased its net profit by 57.4% to 59.2 million dinars, compared with 37.6 million dinars in the previous year. This performance is the result of a combination of strong growth in operating income and control of risk costs.
Indeed, the Bank’s operating income reached 405.9 million dinars at the end of December last year, compared with 360.1 million dinars a year earlier, representing an increase of 13%.
As for operating expenses, they went up by 19% to 112.8 million dinars, compared to 94.2 million in 2021.
The net banking income (NBI) thus increased by 10% to reach 293 million dinars, compared with 265.9 million dinars at the end of December 2021.
In addition, the Bank managed to control the cost of risk in 2022, with allocations to provisions of 12.7 million dinars and personnel costs which fell by 10.8% to 119.3 million dinars.
As a result, the operating result in 2022 will improve by 64% from 59.6 million dinars in 2021 to 97.6 million dinars in 2022.
