The Banque de Tunisie (BT) has released its interim financial statements for the period ending June 30, 2026, showing a significant increase in profitability. The bank's net result for the first half of 2026 reached 95.616 million dinars (MDT), up 12.5% from 85.016 MDT in the same period last year. This growth is mainly attributed to the increase in net banking income, which stood at 292.079 MDT, up 11.8% from 261.150 MDT in the first half of 2025.
The bank's net banking income was driven by an increase in interest and investment portfolio revenues. Interest and similar revenues rose from 331.853 MDT to 342.475 MDT, while investment portfolio revenues increased from 67.640 MDT to 74.812 MDT. Additionally, the bank's operating expenses were contained, despite the growth in its activity, with an operating result of 157.222 MDT, up 17.6% from 133.743 MDT in the first half of 2025.
However, the bank's profitability growth should be considered in light of two nuances. Firstly, the comparison with the previous year is flattered by an exceptional item in 2025, which did not recur in 2026. The bank's net result from ordinary activities, excluding exceptional items, stood at 95.616 MDT in the first half of 2026, up 6.7% from 89.596 MDT in the same period last year.
The second nuance concerns the bank's liquidity, which has decreased significantly. The bank's cash and cash equivalents fell to 286.070 MDT at the end of June 2026, down 68.6% from 911.085 MDT in the same period last year. This decline is mainly due to a negative net cash flow from operating activities, which stood at -98.313 MDT, compared to a positive flow of 82.388 MDT in the first half of 2025.
The decrease in liquidity is also attributed to a net outflow of deposits, which fell by 104.332 MDT, and an increase in loan disbursements. The bank's deposits and customer accounts decreased by 2.2% during the first half of 2026, from 6,957.654 MDT at the end of 2025 to 6,807.266 MDT at the end of June 2026.
Despite the decrease in liquidity, the bank's balance sheet remains solid, with a significant increase in customer loans, which rose by 9.6% over the past year to 6,587.714 MDT. The bank's non-performing loans ratio also improved, standing at 6.49% at the end of June 2026, down from 7.26% in the same period last year.
The bank's equity stood at 1,508.306 MDT, up 7.6% from the previous year, mainly due to the allocation of a portion of previous year's profits to reserves. The bank's capital remains unchanged at 270 MDT. The financial statements were subject to a limited review by the auditors, who expressed no reservations but drew attention to certain matters, including a dispute with the Competition Council and a tax dispute related to the 2024 financial year.
Key points
- Banque de Tunisie's net result for the first half of 2026 reached 95.616 million dinars, up 12.5% from the same period last year.
- The bank's liquidity decreased significantly, with cash and cash equivalents falling to 286.070 million dinars at the end of June 2026.
- The bank's balance sheet remains solid, with a significant increase in customer loans and an improved non-performing loans ratio.
