Listed banks reported a significant acceleration of the Net Banking Income (NBI) growth in 2021, stock market broker Tunisie Valeurs said in Q4 analytical note released Thursday. Banks also saw their revenues rise 10.4% to 5.5 billion dinars.

“All listed banks posted positive NBI growth, which is quite an achivement in the context of the COVID-19 pandemic,” the note further rezds. “This demonstrates increased bank resilience amid the pandemic-driven deterioration of the business environment.”

This dynamic is explained, the intermediary said, by an increased issuance by the State of treasury bonds in 2021, the redistribution of dividends by leasing subsidiaries after their suspension by the Central bank of Tunisia in 2020 and foreign trade showing signs of recovery in 2021.

Other revenues jumped 25.5% to 1.5 billion dinars, said Tunisie Valeurs.

GNP growth though fell short of absorbing the increase in corporate expenses which soared 15.2% to 2.6 billion dinars pushed by personnel costs (+17.7% to 1.7 billion dinars) and other operating expenses (+10.9% to 742.1 million dinars).

Stock of deposits likewise grew 8.4% to 78.5 billion dinars, the note said, driven by the post-2020 economic recovery.

Actually, deposits edged up 7.6% to 30.8 billion dinars, while saving deposits and term deposits rose 9.3% and 8.5%

respectively to 24.5 billion dinars and 23.2 billion dinars.

Meanwhile, outstanding credits showed a moderate growth of 4.6% to 77.1 billion dinars considering the non-business-friendly environment and the behaviour of banks which continue their deliberate policy of prioritising the reception of deposits over the disbursement of funds..

In another connection, Tunisie Valeurs said, an overall deterioration of the productivity of these banks was observed in 2021. Thus, the operating ratio of the sector reported an increase of two percentage points to 47.1%. The coverage ratio of the wage bill by net commissions shrank 2.7 percentage points to 71.6%.

Source: Tap News Agency