It also considerably outperformed its 2006 figures. Net profits leaped 51% during the course of the year, up from 17% net profit growth in 2006. The bank also boosted its assets by 14.1% and strengthened its Tier 1 capital base by an impressive 13.8%.
Banque de Tunisie returned 20% on its equity in 2007, which compares to a return of 14.4% in 2006. The bank can also boast the lowest non-performing loan ratio in the Tunisian bank sector. Just 5.46% of the banks loans are non-performing, down from 6.4% in 2006. The cost-to-income ratio also fell from 34% in 2006 to 31% last year.
In 2007 the bank worked hard to transform its technology infrastructure by investing in a new IT system that allowed it to cut costs and improve its internal control processes. Banque de Tunisie continues to impress The Banker’s award panel for its sound management and consistently strong financial fundamentals. Its performance in 2007 was no exception and cements the bank’s reputation as the leading financial institution in Tunisia.
