Tunisia: QNB Tunisia increases its net profit by 70% in 201

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    According to the financial statements for the year ended December 31, 2018, QNB Tunisia saw its banking operating income increase by 30.5% to 126.4 million dinars, compared with 96.9 million dinars in 2017, while bank operating expenses increased 63% to 76.6 million dinars.

    The bank recorded losses on commercial securities portfolio of 20.4 million dinars, just like the three previous years.

    In this respect, the bank’s net banking income in 2018 stagnated to 49.8 million, the same level recorded a year earlier.

    In addition, equalization provisions and the result of credit losses on off-balance sheet receivables and liabilities amounted to 3.3 million dinars at the end of December 2018, compared with 7.8 million in 2017, i.e. a decrease of 58%.

    Personnel expenses reached 28.4 million dinars, against 25.9 million a year earlier.

    As a result, QNB Tunisia achieved a net profit of 3.2 million dinars, compared with a profit of 2.1 million in 2017 and a deficit of 33.4 million in 2016.

    At the end of the fiscal year ended December 31, 2018, the bank managed to increase its resources significantly.

    The collection effort materialized by an increase of 130.8 million dinars of customer deposits, i.e. an improvement of 21.5% totaling 739.2 million dinars.

    Loans granted to customers rose by 18.9% to 1.2 billion dinars, against 995.1 million in 2017.

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