The credit distribution activity by the UIB has been quite slow in the first half of the current year, with a decrease in the outstanding receivables on customers by -0.17% to 5.82 billion dinars, compared to the end of 2020.
Similarly, the bank’s deposits stall, recording a small variation of +0.5% to 5.15 billion dinars. The evolution of the bank’s deposits reflects a decline in sight deposits by 2.1% against an increase by the same percentage in savings accounts.
The share of sight deposits slightly went down to 30% from 30.8% as of December 31, 2020.
Despite a slower pace of activity, justified by the difficult context, UIB managed to increase its NBI by 11.7% as of June 30, 2021 compared to the same period of the previous year and this, despite, the weak progression of the margin on interests BY only 3% to 124.8 million dinars.
In fact, the increase in NBI benefited from the growth of the margin on commissions of 30.2% to 69.6 million dinars and the growth of income from securities portfolio by 14.6% to 24.9 million dinars.
Thus, the bank’s NBI totaled 219.3 million dinars as of June 30, compared to 196.3 million dinars as of June 30, 2020.
On the other hand, the operating expenses (including depreciation charges) of the bank have risen by 10.6% to 112 million dinars, against 101.3 million dinars in the same period of the past year.
This development is attributed mainly to the increase in personnel costs by 12.9% to 81.6 million dinars.
The operating ratio therefore records a relaxation of 0.5 percentage points from 51.6% at the end of June 2020 to 51.1% at June 30, 2021.