(Ecofin Agency) - The cumulated net banking product of banks listed on Tunis stock exchange reached TND4.23 billion ($1.43 billion) at the end of the 2018 fiscal year.

This represents a 15.6% rise on a year to year basis, according to data compiled by Ecofin Agency.

The net banking products of eleven out of the twelve banks rose except for Arab Tunisian Bank whose net banking products decreased by 9.1%.  

Wifack International Bank had the best performance with a 54.2% rise (even though it gave the lowest contribution to the overall net banking product with $24.9 million).

Banque Internationale Arabe de Tunisie (BIAT) was the leading bank in terms of net banking product since it reached $828.12 million during the period under review.

However, investors will have to wait for the publication of the final reports to measure the sector’s profitability.

The banking index of the Tunisian stock exchange rose by 10.68% in 2018. In 2017, it rose by 18.2%, an indication that investors think the banks’ net margin will have a lower growth compared with that in 2017.

Idriss Linge