The Tunisian administration, owner of 50.4% shares of Société Tunisienne de Banque, did not exactly manage to convince private investors of the relevance of its restructuration plan. An hypothesis seemingly confirmed at the end of the capital increase which subscription operations took place from 15 September to 14 October.

According to the memo on this operation signed by the Financial Markets Council (CMF -regulatory authority of the sector in Tunisia), it was scheduled that part of this new capital (190.8 million Tunisian dinars) would be provided by the State and public shareholders (191 million dinars). The other part was meant to come from private investors to the tune of 374 million dinars, otherwise the State would have to provide for this as well.

The condition seemed fulfilled considering the communication from the Minister of Finance to CMF on 30 October 2015. Out of the 130,515,000 new shares issued as part of this operation, the State directly acquired 104.8 million shares and indirectly 12 million shares.

Added to the 6.27 million shared initially held, the State now has directly, 111.16 million shares or voting rights representing 71.54% of the capital of STB. Indirectly through other public entities, it already had the control of 11.8% of this capital, which brings the global shareholding of public investors to 83.3%.

The new majority shareholder indicated that it will continue with the restructuration of the bank. A reform which was presented to the press in August by Abdelwahab Nachi, and which main axes are the expansion of the network, strengthening of human resources, improvement of the electronic platform.