Tunisia’s BIAT expects 16 percent profit rise in 2001
The Arab Bank of Tunisia (BIAT) released preliminary financials for 2001, forecasting that it would register 33.8 million Tunisian dinar ($23.29 million) profits, up 16 percent over last year’s TD29.11 million. Turnover in expected to rise 22 percent, from TD135 million in 2000 to TD150 million in 2001, Reuters reported. BIAT plans to release its 2001 results in late January or early February 2002.
France’s Banques Populaires (BP) raised its holdings in BIAT from 1.6 percent to 2.9 percent last month, bringing it to TD6.4 million. The bank’s other institutional shareholders include Morocco's Wafa bank, Italy's San Paolo Bank holding, Kuwait's Al-Ahli Bank and Saudi National Commercial Bank of Jeddah.
Tunisia's largest private bank posted a net profit of TD14.2 million in the first half of 2001, up 8.3 percent compared with profits from the same period last year. BIAT controls 15 percent of the country’s banking market in terms of deposits and 40 percent of the Tunisian credit cards market. — (menareport.com)
© 2002 Mena Report (www.menareport.com)