Attijari Bank, a Tunisian institution owned by Andalu Carthage Holding (a subsidiary of Attijariwafa Bank) recorded TND33.2 million ($12 million) profits on foreign exchange transactions during H1, 2018. This represents an increase of TND10 million ($3.63 million) compared to this same value in 2017.

This performance greatly contributed to the increase in the revenues generated by the institution’s commercial portfolio and financial operations. These revenues stood at TND 45.6 million, an increase of TND15 million. In addition, the interest on the loans granted to clients increased by TND58.8 million.

The net banking product reached TND213.25 million and the net result, supported by a decrease of its financial burden which attenuated the impact of an increase of the staff expenditures, was TND74.5 million during the period under review.   

Let’s note that the bank is less diversified and the burden of its clients’ loans on the assets is still rising. Indeed, on June 30, 2017, it was 66 % and a year later, it is 67%. In case of a serious deterioration of the microeconomic conditions in Tunisia, these loans could become risky debts.

Idriss Linge