Tunisia Values ​​will soon turn into a Business Bank

Tunisie Valeurs, the leader of Tunisian intermediaries, will become a commercial bank by the end of 2019 or at the latest at the beginning of next year, announced the Chairman of the Board, Fadhel Abdelkefi, during the presentation. financial results held at the headquarters of the Tunis Stock Exchange, Thursday, March 28.

« This financial institution obtained, in January 2019, the agreement in principle of the Central Bank of Tunisia, to become a merchant bank, which was accompanied by a number of conditions. It is about the increase of the capital of 10 to 20 million dinars, by incorporation of reserves, of the obtaining of the agreement of the CMF (already obtained), with a view to the creation of two new companies, held 100% by Tunisie Valeurs, for the exercise of stock brokerage and asset management and organizational compliance (information system, governance, procedures manual …) « said Abdelkefi.

Tunisie Valeurs has 6 months from the date of approval in principle (ie no later than end of July 2019), to comply with the requirements of the Approval Committee, before returning to the Central Bank of Tunisia (BCT) to finalize the process.

« Tunisie Valeurs has always exercised the business of investment banking, even without having the status, but the approval of merchant banking will allow it to accelerate the development of the financial engineering business, by participating in international tendering and by developing a new business for the institution, that of « credit », to assist companies in the financial restructuring of their balance sheets, « added Abdelkefi.

It should be noted that for the year 2018, the institution saw its operating income increase by 17.5% in 2018, to 19.5 million dinars ($ 6.4 million), exceeding 13% by report to the budget. Operating expenses increased 21% to 13 million dinars ($ 4.3 million). Similarly, net income was 6 million dinars ($ 2 million), up 74% from 2017.

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