Debriefing of BIAT's general meeting
Comments on FY 2016 results:During BIAT’s general meeting, the management commented FY2016 achievements by highlighting the significant reversal of provisions for loss and expense, i.e. TND24m, which boosted the bank’s net result (TND193m on a consolidated basis taking into account the exceptional contribution). The management says that the latest downward revision of the key rate has cost the bank a loss of about TND25m in its interest margin in 2016.
The meeting approved the payment of TND4 dividend per share, in line with our expectations, starting from June 12, 2017.
Outlooks:
The management expects 13% growth in NBI by 2017 (another +2% if BCT raises its key rate).
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