The “Union Bancaire pour le Commerce et l’Industrie” (UBCI) has just published its financial statements as of December 31, 2021 as they will be submitted for approval at the ordinary general meeting to be held on April 29, 2022.
These statements show a net profit of 37.6 million dinars, against 42.1 million in 2020, posting a decline of about 11%. This decline is mainly due to the sharp increase in personnel costs and general operating expenses.
Indeed, despite the 9% increase in net banking income to 263 million dinars, the operating income of the bank comes out in a fall of 26% to 59.6 million dinars, against 81 million a year earlier.
This decline originates from the 36% increase in personnel costs to 133.8 million dinars and 33% of general operating expenses to 60.5 million dinars.
The Ordinary General Meeting will decide to distribute dividends in the amount of 15 million dinars of which an amount of 3.8 million to be deducted from the account “optional reserves” constituted before December 31, 2013 free of withholding tax, applicable on non-resident individuals and legal entities.
The remainder is to be taken from the “optional reserves” established after December 31, 2013.
