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Tunisia: UBCI increases net profit by 20% to 57 million dinars in 2019

The “Union Bancaire pour le Commerce et l’Industrie” (UBCI) has just published its annual financial statements for the year ended December 31, 2019.

These statements show a net profit of 57.5 million dinars, against a gain of 47.7 million dinars a year earlier, or an increase of about 20.4%.

In 2019, the bank’s banking operating income rose by 5.8% to 380 million dinars, against 359.2 million in 2018.

This income comes from interests and similar income (262.4 million dinars), commissions (58.9 million), gains on commercial securities portfolio (32.4 million) and income from the investment portfolio (26.3 million).

On the other hand, the operating expenses decreased by 4.4% from 130.8 million dinars to 125 million.

To this effect, the Net Banking Product shows a growth of 11.6% to 255 million dinars against 228.4 million dinars in 2018.

Taking into account 103 million dinars in personnel expenses and 44.3 million dinars in general operating expenses, the bank’s operating result stands at 103.5 million dinars, compared to 82.4 million in 2018, posting an increase of 25.6%.

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