Tunisia: Drop of 428 million dinars in the net income of the Central Bank in 2020

The net result of the Central Bank of Tunisia (BCT) decreased by 427.5 million dinars (150.379 million dollars) at the end of fiscal year 2020 compared to the previous fiscal year, according to the 2020 annual report of this year. issuing institute based in Tunis.

This result stood at 621.7 million dinars against 1.049 billion dinars in 2019. The leaders of the BCT mainly attribute this decline< au repli des produits des opérations d’intervention sur le marché monétaire, qui continuent à constituer la principale source de revenu de la Banque durant ces dernières années, de 404,5 millions de dinars ou de 33,7%.>>

Still in the opinion of the officials of the BCT, the financial statements of the issuing institution, closed on December 31, 2020, bear the mark of the economic and financial situation of the country which prevailed in 2020, characterized in particular by the the banks’ liquidity needs and the improvement of external balances, in relation to the current deficit itself resulting from the decline in foreign trade and the increase in net foreign currency assets.

The BCT’s balance sheet total stood at 39.704 billion dinars against 34.558 billion dinars in 2019, an annual increase of 14.9%. In terms of assets, the increase was attributable, on the one hand, to the notable increase in foreign currency assets which rose to 3.707 billion dinars over one year, in particular thanks to the drawings made on external credits. , as well as to the increase in the income of workers abroad, and on the other hand, to the facilities granted by the Bank to the Tunisian State of 2.810 billion dinars. In terms of liabilities, the increase was mainly due to the significant change in the “Central Government Account” heading of 3.181 billion dinars, and to a lesser extent from the banknotes and coins in circulation, which increased by a end of year to the next, 2.241 billion dinars.

At the level of Central Bank products, the item Income from intervention operations on the money market increased from 1.201 billion dinars in 2019 to 797 million dinars a year later. Likewise, interest on foreign currency investments is down, standing at 102 million dinars against 150 million dinars in 2019. The same is true of other income on foreign currency transactions which stood at 51 million dinars against 87 million dinars as of December 31, 2019.

In total, the products of the BCT contracted from 497.709 million dinars to 961.653 million dinars against 1.459 billion dinars in 2019.

Regarding the costs of the BCT, personnel costs rose from 2.854 million dinars to 98.904 million dinars. An increase of 2.817 million dinars is noted concerning the general operating expenses which stand at 28.646 million dinars. The costs of manufacturing banknotes and coins increased sharply from 45.033 million dinars to 51.650 million dinars against 6.617 million dinars as of December 31, 2019.

In total, during the period under review, the expenses of the BCT were reduced overall by 17.12% with an achievement which fell from 410.206 million dinars on December 31, 2019 to 339.949 million dinars one year later.

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