Leasing sector
3.5% of total funding
in January
The Tunisian leasing market is increasingly invested by commercial banks, whereas it was completely dominated by leasing companies at the start of the 2000s. The share of leasing companies increased from 97.4% to beginning of the year 2010 to 71.4% on average in 2022 and 70.6% in January 2023. Financing by leasing only represented 3.5% of the total financing of the resident financial system in January, against 3 .7% a year ago and 4.5% on average over the past five years.
In fact, growth in leasing financing from banks stands at +11.2% y/y in January (and +7.9% at an average annual rate in 2022), while financing granted by leasing companies n rose only +3.2% y/y in January and +0.2% throughout last year.
According to the “Tema” note, the leasing companies are the first victims of the aggravation of the deterioration of the country’s macro-financial situation, since they have faced the increase in the cost of money, the exacerbation the credit risk faced by banks and, also, the crowding-out effect exerted by the public treasury.
Tunindex
The rise continues
The Tunindex offers a second increase in a row on the Tunis Stock Exchange, where the pace of trade has accelerated further. The main index gained 0.31%, in a volume of nearly 5 MD. The highest volume concerned SAH, ie 1.2 MD. The stock ended up 4.63%. The group ended the year 2022 with a turnover up by 28.7% to 862.9 MD. “Amen Bank” gains 3.22% in a volume of 579,000 dinars. The biggest increase is signed Monoprix, which takes 5.76% in modest trade. CIL rose by 4.48%.
In the red, “Attijari Bank” fell back by 0.47% in a volume of 1.1 MD. Somocer suffers the biggest drop, of 2.50%. The Euro-Cycles title fell by 1.71%. TPR ends down 1.36%. The title “CIL” found itself at the top of the bill this week. The rental company’s share posted the best increase of the week, rising by 19.2% to 25.610 dinars, in almost no flow. The title “Tuninvest” was among the biggest winners of the week. The action of the “Sicar” signed an increase of 8.3% to 9.050 dinars by draining a low volume of 11,000 dinars over the whole week. “Euro-Cycles” was the most abused stock. The action of the cycle specialist fell by -17.3% to 21,000 dinars, in exchanges of 906,000 dinars. “Lilac” was the most dynamic value of the session. The action drained capital of around 1.8 MD, or 14.4% of the total volume traded for the week.
Finance
Carbon credits rise
at 11.5%
The rate of classified credits amounts to 13.1% of all credits until the end of 2021, while that of carbonized credits is 11.5% of all credits, according to a report on the establishment of banking supervision.
The so-called charred credits are those for which the hope of repayment is nil. The share of public banks in carbon credits reached 15.6% against 8.4% for private banks. These credits reduce the capacity of banks to face banking or financial crises, according to the same report.
Remittances from Tunisians Abroad
Up 9.9%
Remittances from Tunisians abroad amounted to 9,468.4 million dinars in 2022 against 8,617.8 million dinars in 2021, an increase of 9.9%, according to a document published by the Office of Tunisians Abroad (OTE) on the evolution of remittances from Tunisians abroad for the years 2021 and 2022.
These transfers increased by 14.6% in the first quarter to reach 1,928.7 million dinars in the first three months of 2022, compared to the first quarter of 2021. In the second quarter of last year, these transfers increased by 17.4%, reaching 1,928.7 million dinars against 1,872 million dinars during the same period of 2021. In the third quarter, remittances from the Tunisian diaspora also increased by 2.9% to reach 3,193 million dinars after being around 3,104 million dinars in 2021, while in the fourth quarter of 2022, an increase of 9.9% was recorded reaching 9,468 million dinars against 8,617 million dinars during the same period of 2021.
The EXPRESS article first appeared on La Presse de Tunisie.