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Arab Tunisian Bank: 1 director
A director at Arab Tunisian Bank sold 26,938 shares at 3.101TND and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
- Please Change Name Olivier Panis
Arab Tunisian Bank: Update following downgrade to B1 negative
FINANCIAL INSTITUTIONS CREDIT OPINION 25 August 2017 Update RATINGS Arab Tunisian Bank Domicile Tunisia Long Term Deposit B2 Type LT Bank Deposits - Fgn Curr Outlook Negative Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Analyst Contacts Melina Skouridou, CFA 357-2569-3021
- Please Change Name Olivier Panis
- Imen YAHIA
A shy start amid a tough context
Over Q1 2017, ATB’s NBI reported a 5.16% increase to TND53m. This modest increase was pulled up by a 7.6% growth in the bank’s net interest margin to TND20.66m and by a 9.9% increase in net commissions to TND11.84m. Revenues from commercial and investment portfolio remained almost flat at TND20.5m. The bank’s deposits stood at TND3,942.1m, i.e. a 3.45% decrease compared to the end of 2016. Customers’ loans remained almost stable at TND3,668.9m.
- Imen YAHIA
A modest growth
Over FY2016, ATB’s NBI reported an 8.45% increase to TND217.01m. This modest increase was pulled up by a 6.9% growth in revenues from commercial and investment portfolio to TND91.88m and by a 16.81% rise in net commissions to TND45.23m. The bank’s net interest margin added 5.92% to TND79.9m. By the end of 2016, the bank’s deposits reached TND4,082.78m, i.e. a 5.31% increase compared to the end of 2015. Customers’ loans amounted to TND3,655.4m, i.e.
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 20...
Q1 2016: looks bad, but well-behaving core business
Apparently, modest figures. The bank achieved a growing NBI in the first quarter of 2016, by 6.3%, reaching TND50.394m (lower than the industry average of 8.4%). However, NBI growth has a better quality. The net interest margin increased during the first quarter, while the sector accused a significant decline (an industry average of -5.7%). the operating margin decreased by 1.9% to 46% in Q1 2016. The liquidity ratio (Deposits/Loans) decreased compared to 2015 by 800 bps, reaching 107.9% in 2015...
An interesting Q4…
ATB realized an interesting progression of NBI in Q4 2015 by 26% to TND41.992M, yoy. Thus, the NBI posted an annual growth rate of 17.14% to TND203.440M (+2.35%, according to AlphaMena). On the other hand, the bank was able to keep its costs under control: the cost-income ratio improved by 500 bps to 53.33% in 2015. Overall, the operating margin also improved reaching 46.7%. Contrary to the industry trend, the liquidity ratio increased from 114%, in FY 2014, to 114.4% in FY 2015.
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