Growth, but deteriorating margin...
During Q2 2016, ATB published an NBI progression of 6.4% to TND150.374m (compared to Q2 2015). The good performance was absorbed by the obvious increase of costs (+10.8% to TND57.977m, during the same period). The bank also recorded a deterioration of its management indicators. The banking cost/income ratio increased by 218 bps to 54.9%. Furthermore, the operating margin decreased from 47.2% during Q2 2015 to 45% during Q2 2016. The liquidity ratio (deposits/loans) depreciated compared to Q1 2016 (from 107.9% to 103.5%) due to the liquidity shortage in money markets.
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