Tunisia’s Non‑Professional Bank Credit Stock to Households Grows Slightly in 2025, but Mortgage Lending Declines
Source: Banque Centrale de Tunisie; analysis by Bassem Neifar for the Tunis‑Africa Press Agency (TAP)
Key Figures (end‑December)
| Credit Category | 2025 (bn TND) | 2024 (bn TND) | Δ (million TND) |
|---|---|---|---|
| Total non‑professional credit | 30.464 | 30.022 | +442 |
| Mortgage loans | 13.325 | 13.523 | ‑197.6 |
| Housing improvement / renovation | 11.270 | 10.955 | +315.1 |
| Consumer credit | 5.4 | 5.102 | +297.6 |
| Vehicle loans | 0.4433 | 0.4137 | +29.6 |
| University loans | 0.0149 | – | +14.9 |
Overview
The Central Bank of Tunisia reported that the stock of non‑professional bank credits granted to individuals reached 30.464 billion dinars at the end of December 2025, up 442 million dinars from the previous year.
Financial analyst Bassem Neifar highlighted that, despite the modest overall increase, the volume of new credit to households stagnated in 2025.
Mortgage Lending – A First Negative Turn Since 2011
- Mortgage loans, which make up the bulk of non‑professional credit, fell to 13.325 billion dinars, a drop of 197.6 million dinars compared with 2024.
- Neifar attributes this decline to the ongoing housing crisis: many Tunisians can no longer secure bank financing for home purchases because of reduced debt‑servicing capacity and the need to prioritize daily expenses, education, and health.
- He notes that social housing has become a central pillar of state policy.
Legislative Boost for Home Ownership
The Tunisian government recently amended the foundational law of the National Real Estate Company (SNIT) to expand home‑ownership opportunities, following President Kaïs Saïed’s call to revive affordable housing and enable a broader segment of the population to buy homes at prices matching their purchasing power.
Renovation & Improvement Loans – A Growing Alternative
- Credits for housing improvement or renovation rose to 11.270 billion dinars, up 315.1 million dinars YoY.
- Neifar explains that many families are opting to extend or add a floor to existing dwellings as a cost‑effective alternative to buying a new home.
- He warns that the younger generation is increasingly unable to access bank credit for new‑home purchases.
Misallocation of Renovation Funds
The analyst also observed a misuse of renovation loans, with a sizable share of borrowers diverting the funds to consumption rather than actual home upgrades.
Consumer, Vehicle, and University Loans
- Consumer credit reached 5.4 billion dinars, a rise of 297.6 million dinars, though growth slowed in volume.
- Despite a decline in the central bank’s policy rate, Neifar says bank interest rates remain high, limiting borrowing. He adds that a more accommodative monetary stance in 2026 could significantly boost consumption.
- Vehicle loans grew modestly to 443.3 million dinars (+29.6 million).
- University loans remain marginal at 14.9 million dinars, reflecting families’ strategic investment in higher education to enhance human capital amid rising demand for Tunisian expertise, both domestically and abroad.
Implications
- The negative trend in mortgage lending signals a deepening affordability gap in the housing market.
- Renovation financing is becoming a key coping mechanism, but its effectiveness is diluted when funds are redirected to consumption.
- Monetary policy will play a decisive role: lower policy rates must translate into more competitive bank rates to revive borrowing and, consequently, household consumption.
Further Reading
Tunisia: Household purchasing power down 8 % over 2018‑2024, warns IACE
Keywords: Tunisia, bank credit, mortgage loans, housing crisis, consumer credit, monetary policy, SNIT, affordable housing, household purchasing power.
