Amen Bank: first bank, in terms of earnings evolution

Amen Bank has just published yesterday Friday 8 April 2022 on the website of the Financial Market Council (CMF) its individual and consolidated financial statements as of 31 December 2021 as they will be submitted for approval by the general meeting. it will be held on April 28, 2022. These declarations were accompanied by the general and special reports of the mayors.

2021 was the year of excellence for Amen Bank in the Tunisian banking sector following the increase of its bank net profit from 98.4 million dinars (MD) in 2020 to 136.2 million dinars at the end of last year, an increase of 38.3%. This is therefore the best performance in the sector, in transitory terms.

In terms of activity indicators, Amen Bank confirmed its resilience and willingness to strengthen its financial base. From this point of view, customer deposits and assets increased in the period December 2020 – December 2021 from 5861.002 to 6343.8 MD, which corresponds to an increase of 8.2%, while loans and special resources are increased, reaching 926.3 MD.

Thanks to the increase in its resources, appropriately allocated to loans, the bank continued to support the economy despite the constraints of the economic situation. As a result, trade receivables went from 242.6 MD to 6245.7 MD, the outstanding balance of the investment portfolio in turn evolved by 4.0% to 2058.2 MD.

A resilient bank working to consolidate its capitalization and its solvency and liquidity ratios, Amen Bank’s assets increased at the end of 2021 to 1186.2 MD, thus recording an increase of 6.5% compared to last year.

In terms of performance, the intermediation margin (NBI) rose by 13.4% to 454.2 MD under the combined effect of the improvement in the bank operating result against the control of bank operating costs. The bank, prudent and wishing to comply with the standards and prudential regulations in force, made provisions and outcomes of value adjustments on loans, off-balance sheet and liabilities for 104.2 MD.

However, this was done by seeing a dramatic increase in operating income from 16.1% to 153.9 MD as of December 31, 2021. Basic earnings per share are valued at 4,896 dinars.

The synergy of Banca Amen Group increased his score by 38.3% to 136.2 MD.

The Amen Group has about sixty companies operating in six areas of economic activity controlled by a parent company, PGI – Holding. Amen Group employs approximately 4,000 people.

Furthermore, AMEN BANK was awarded in 2021, for the 2nd consecutive year, the award as “Best Bank in Tunisia” (“Best Bank – Tunisia 2021”), by the magazine Global Finance.

AMEN BANK has also obtained two awards from the Global Banking & Finance Review: “Best Bank for Youth and Students Tunisia 2021” for AMEN First Bank, the first 100% online bank in Tunisia, since 2015 and “Best Digital Wallet Tunisia 2021 for AmenPay, the first mobile payment application, 100% Tunisian.

In addition to these awards, AMEN BANK closed 2021 with a double recognition, assigned by the label “Elected Customer Service of the Year 2022”, being “Laureate” in the Bank category, but also “Laureate of all participating sectors.

All these awards reinforce AMEN BANK’s position as a bank focused on innovation, the digitization of its processes and consideration of the customer experience. The bank has been active for years for the success and achievement of a strategy based on developing customer relationships and improving the quality of the Bank’s services.

Furthermore, and to meet the expectations of its customers and to cope with the IT security risks affecting digital banking services, AMEN BANK has also obtained the maintenance of its ISO / IEC 27001: 2013 certification by Tüv Rheinland Maghreb , for the second consecutive year, on all its digital banking platforms, including AMEN First Bank.

Furthermore, during the year 2021, AMEN BANK was able to confirm its MSI 20,000 certification, which reflects its compliance with the standards of international banks, in terms of performance and financial resilience.

The awards, obtained during the year 2021, testify to the relevance of the bank’s overall strategy based on innovation and reflect its resilience, financial solidity and demonstrate its ability to guarantee a quality of service, responding to the expectations of its customers .

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