The BNA has reported a 13.8% increase in its net profit for the first half of 2026, reaching 156.3 million dinars. This growth is attributed to a rise in deposits and net banking income. According to a report by BNA Capitaux, the bank's deposits grew by 10.6% to 15.393 billion dinars, enabling it to maintain its second position in the banking sector in terms of resource collection.
The bank's credit activity remained relatively stable, with loans to customers standing at 14.548 billion dinars as of June 30, 2026, compared to 14.536 billion dinars at the end of 2025. BNA Capitaux noted that the bank maintained its position as a leading credit distributor. The bank's product net banking (PNB) reached 560.1 million dinars in the first half of 2026, representing a 4.3% increase from the same period in 2025.
The growth in PNB was driven by a 12.7% increase in revenues, which offset a 22.5% decline in interest margin. Despite a 6.6% rise in operating expenses, the bank maintained its expense ratio at 38%, indicating effective cost management. This performance aligns with the trends observed in 2025, when the bank's total assets exceeded 25 billion dinars, and its PNB surpassed 1 billion dinars.
However, the quality of the bank's portfolio remains a concern, with classified receivables accounting for 20.4% of total exposures and a coverage ratio of 64.8%. The bank's dotations nettes aux provisions amounted to 100 million dinars in the first half of 2026. BNA Capitaux also highlighted significant exposures to public enterprises, totaling 8.798 billion dinars, up 7% from the end of 2025.
The bank's subsidiaries also contributed positively to its performance. BNA Assurance reported a 17.5% increase in net profit for the first half of 2026, while its real estate subsidiary, Simpar, returned to profitability with a net profit of 643 thousand dinars. BNA Capitaux estimates that the group may achieve a consolidated profit of around 292 million dinars for the full year 2026.
To drive future growth, the BNA has adopted a new strategic plan for 2026-2030, focusing on enhancing customer relationships, strengthening financial resilience, and accelerating digital transformation. The bank aims to improve its performance, governance, and environmental sustainability, including reducing its carbon footprint through the installation of photovoltaic solutions in its branches and archives.
On the stock market, BNA's shares have performed well, rising by 59.8% in 2025 and 86.8% since the beginning of 2026. BNA Capitaux has a "buy" recommendation on the stock, citing a price-to-earnings ratio of 4.5 times, a price-to-book ratio of 0.5 times, and a dividend yield of 5.6%.
Key points
- BNA's net profit grew 13.8% to 156.3 million dinars in H1 2026.
- The bank's deposits increased by 10.6% to 15.393 billion dinars.
- BNA Capitaux estimates a consolidated profit of around 292 million dinars for the full year 2026.
