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The results of the Union Bank of Commerce and Industry (UBCI) for the first half of 2024 show growth in its main activity indicators.
During this period, UBCI’s deposits grew 6.8%. Savings deposits grew significantly by 9.5% to 3.625 billion dinars. At the same time, the bank’s loan portfolio grew by 5.7% to 3.085 billion dinars, while maintaining strict risk management. Prudential ratios, especially the bad debt ratio (NPL) and coverage ratio, remain among the best in the banking sector. In addition, the commercial and investment securities portfolio recorded a strong growth of 14.53%.
The bank’s net income amounted to 153.4 million dinars at the end of the first half of 2024. This result includes a net operating profit of 87.4 million dinars, a 9.3% increase in net commissions to 32.7 million dinars, and income from commercial and investment securities totaling 33.3 million dinars, up 5.4%. Operating costs were kept under control and increased by 7.5% despite a period of intensive investment.
UBCI continues to actively deploy the transformation and investment plan launched in 2021.
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