Banque de Tunisie
Tunisia’s fourth largest bank, Banque de Tunisie, has won for the second year in a row following steady growth in key indicators plus a 12.4% increase in pre-tax profits. The bank has also launched some significant IT initiatives including an important customer relationship management project.
Banque de Tunisie was the only one of the top four banks to show an increase in profits and produced a respectable return on capital of 16.2%, slightly down on the 19.1% achieved the previous year. It also showed 28% and 9.4% growth in Tier 1 capital and assets respectively, the largest growth shown by any of the major banks. The cost/income continues to remain, improving slightly to 35.7%.
While the bank has no great plans for expansion and is content to maintain its market share in the 8%-10% range, it is keen to maintain quality and its objective is to keep ROE close to 20%.
