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Tunisia: UIB reports 30.66% growth in NBI end March 2012

The “Union Internationale de Banques” (UIB) announced, Monday, a 30.66% increase of its Net Banking Income (NBI), which totaled 41.111 million Tunisian dinars (MTD), after the first quarter of 2012. According to a statement released by the universal bank, deposits from all kinds of clients increased by 10.23% from January to March 2012, compared to the same period of 2011, reaching 2,521.7 MTD (+ 234.1 MTD).

Moreover, the net outstanding loans to customers grew by 19.08% (+450.46 MTD).

The gross operating income grew, on its part, by 6.757 MTD, reaching 19.082 MTD in March 2012.

The UIB also reports a 17.71% progress of income from banking operations, presented net of reserved bank charges.

Despite lower margins applied to credit, due “to increased competition and lower average money market rates over the past 12 months”, the interest margin of the bank rose from 16.58% to reach 23.680 MTD in 2012.

End of March 2012, the UIB network had 122 agencies following the creation of three new branches in Dar Fadhal, Western El Kram and Mornaguia.

Two more agencies will open during the second quarter of 2012.

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