STB Bank Releases First-Half 2025 Financial Statements, Demonstrating Sustainable Value Creation and Strengthened Market Position
During this period, the bank consolidated its growth trajectory thanks to a combination of favorable factors. Net banking income increased by 11% to reach 350 million dinars, driven primarily by the growth of revenue from the securities portfolio. This dynamic resulted in a 19.1% increase in gross operating income, which stood at 176 million dinars, reflecting enhanced operational efficiency. Indeed, the increase in operating expenses was limited to 6 million dinars, or 3.7%, thanks to rigorous control of general expenses and a limitation of the salary mass increase to only 1.61%. Net income, meanwhile, appreciated by 54% compared to June 2024, despite a high cost of risk (155 MD). This increase in the cost of risk reflects the bank's sustained effort in provisioning for non-performing loans, an effort that improved the coverage rate of these loans by 5 percentage points. This performance illustrates the solidity of STB's business model, which combines profitable growth, operational efficiency, and prudent risk management, and confirms its ability to create value in a demanding and highly competitive banking environment. Profitability and productivity indicators also recorded positive developments. Indeed, the average returns on assets and equity increased from 0.2% to 0.3% and from 2.4% to 3.5%, respectively, under the effect of the increase in net income. As for the operating expense ratio, it improved, decreasing from 54% to 50% as of June 2025, a 4-percentage-point improvement, thanks to a faster increase in net banking income (+10.9%) than in general operating expenses (+7.4%). Similarly, productivity per average employee increased compared to June 2024, directly reflecting the effect of net banking income growth. In terms of regulatory and prudential requirements, the bank displays comfortable solvency and liquidity levels. The global coverage ratio and the Tier 1 ratio increased by 21 basis points to 15.39% and 53 basis points to 12.46%, respectively, confirming the strengthening of net and broad-based own funds. Liquidity has also been consolidated, offering the bank an expanded financing potential. The main indicators remain largely in line with regulatory requirements, with an LCR of 583.45% (for a minimum requirement of 100%) and an LTD transformation ratio of 91.02%, well below the 120% limit. This improvement results from the contraction of credit outstanding combined with the increase in deposits, reducing the recourse to monetary resources. At the same time, the increase in government securities outstanding, combined with this reduced use of monetary resources, contributed to the increase in the LCR. With its surplus of own funds and a particularly robust liquidity cushion, estimated at nearly 3 billion dinars, STB has the potential to distribute credit, enabling it to sustainably support the growth of its portfolio and meet the financing needs of the national economy. These assets reaffirm its role as a catalyst for economic development and consolidate its positioning as a reference in the Tunisian banking sector. These results not only demonstrate STB's financial solidity but also its ability to support its customers on a daily basis. By strengthening its profitability and consolidating its liquidity, the bank confirms its mission: to support the projects of individuals, businesses, and contribute actively to national economic development.
