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Global Expertise / Local Capabilities
UBCI BNP PARIBAS GROUP
“Your Bank reference in Tunisia”
NORTH AFRICA DAY
November 12th, 2009
ISTANBUL
Monam BELHOULAHead of UBCI Trade Center - Tunisia
2
1. UBCI: Overview & Presentation
2. Tunisia: Economic Overview
3. Foreign Exchange Regulation
Direction
Stratégie &
Développement
3
1. TUNISIA: Economic Overview
1.1. Economic Outlook
4
Socio-Demographic Data
• Population: 10.3 Million
• Age Distribution
• Urbanisation Rate: 65.6%
• Working Population: 46.8%
• Unemployment Rate: 14,1%
• Literacy Rate: 77,1%
• Bank Rate: 48%
Primary 18.5%
Secondary 32.5%
Tertiary 49%
0-14 ans 25%
15-59 ans 65%
60 et + 10%
1.1. TUNISIA : Economic Outlook
Source INS 2008
Source INS 2007
Source INS 2007
5
A strong and steady economic growth...
A CPI under control
% 2005 2006 2007 2008
GDP Agriculture 16.3 12.3 11.5 10.5
GDP Industry 34.3 32.6 33.2 37.4
GDP Services 49.2 49.4 55.3 41.5
A dominating Services sector…
% 2005 2006 2007 2008
Inflation Rate 4.3 4.6 3.1 5.0
An enhancement of living standards
GDP per capita (2008) : USD 3500
TND billion 2005 2006 2007 2008
GDP 37.7 42.2 44.9 50.9
Growth Rate % 4% 5.3% 6.3% 5.1%
Source INS 2008
Source FIPA 2008
Source FIPA 2008
Source IDH Report 2007-2008
1.1. TUNISIA : Economic Outlook
6
A limited current deficit (% of GDP)
2005 2006 2007 2008
0.9% 2.0% 2.6% 3.0%
A controlled foreign debt (% of GDI)
A good country risk rating
A favorable business environment
2005 2006 2007 2008
54.6% 47.2% 45.2% 37.1%
- Moody’s: Baa2
- S & P’s: BBB
Source FIPA 2008
Source FIPA 2008
1.1. TUNISIA : Economic Outlook
- Competitiveness: 35th (Davos 2008)
- Business Climate: 58th (World Bank)
7
An overall environment favouring an emerging consumer
society
☞ A prominent Middle Class Society (80%)
☞ Life expectancy age: 74.2
☞ Integration of the new technologies :
– Credit Cards : 1.8 Million Cards
– Cellular : 8.5 Million Lines
– Internet : 3 Million users
– ADSL : 300 000 Subscribers
– IT : 1 PC per 10 Inhabitants
☞ Property Rate :
– 80 % of house’s owners
– 133 cars per 1 000 Inhabitants
☞ A high level of education
– 400 000 students at the university (61% women)
☞ A privileged Social Status of the Tunisian Woman
1.1. TUNISIA : Economic Outlook
8
Country Europe France Italy Turkey
Amount 18 6.7 4.9 0.48
Exports per country and group of countries 2008
Source INS 2008
TND billion 31/12/2008
Imports 30.2
Exports 23.6
Foreign trade
Country Europe France Italy Turkey
Amount 21.7 5.6 5.2 1
Imports per country and group of countries 2008
1.1. TUNISIA : Economic Outlook
9
Sector Agri.& agri-
food
Energy &
Lubricants
Textile, apparel &
leather
Mechanical &
elec. Ind.
Amount 2.2 4.1 6.1 6.2
Exports per group of sectors 2008
Sector Agri.& agri-
food
Energy &
Lubricants
Textile, apparel &
leather
Mechanical &
elec. Ind.
Amount 3.4 4.9 4.1 11.9
Imports per group of sectors 2008
1.1. TUNISIA : Economic Outlook
10
TND billion 2005 2006 2007 2008
FDI 1.10 1.55 2.16 2.38
A real attractiveness of Foreign Direct Investments (FDI)
Source INS 2008
Exchange Rate 31/12/2007 31/12/2008 30/09/2009
EUR/TND 1.80 1.84 1.89
USD/TND 1.22 1.31 1.29
Smooth depreciation of the Dinar against Euro
Densification of companies with a foreign participation
2004 2005 2006 2007
Companies 1426 2616 2803 2895
FDI = 23% of 2008 GDP
1.1. TUNISIA : Economic Outlook
11
Tourism
• 7 million visitors in 2008 for a total turnover of USD 2,800 Billion (9.9% of
overall current receipt in the general balance of payments).
• An average stay of 5 days against 10 days in Egypt and 8 days in Morocco
(main competitors).
• 100,000 direct jobs and 350,000 indirect jobs.
• Average expenditure (visitors from Maghreb excluded): USD 560.
1.1. TUNISIA : Economic Outlook
12
2.1. UBCI Overview
2.2. Business Organisation
2.3. Ranking/Sector
2. UBCI Overview & Presentation
13
Created in 1961, UBCI is a subsidiary of BNP Paribas group
which holds 50% of the capital. The rest is held by Tunisian
families and the bank is quoted at Tunis Stock Exchange.
A Wide Range of Products
Short term financing
(local & foreign currencies).
Mid & Long term financing.
Leasing.
Structured Finance.
Corporate Finance.
Trade Finance: Letters of credit.
Doc. collections, Guarantees, etc.
Forfaiting.
E-Banking: Connexis Trade,
Connexis Cash.
Cash Management.
Structured Trade Finance.
2.1. UBCI Overview
14
Tunis
5 RBC & 3 CBC
Cap Bon
1 RBC
South & Central
West
1 RBC
Sahel
3 RBC & 1 CBC
Sfax
2 RBC & 1 CBC
- 107 Branches and 112 ATM’s
- 13 Retail Business Centers (RBC)
- 5 Corporate Business Centers (CBC)
- 500 Account Officers /Relationship Managers
Bizerte & North West
1 RBC
2.2. UBCI Presentation: Business Organisation
15
Size Indicators
Branch Network (2008)
150119
132117
104 103 103 92 85 84
0
50
100
150
200
BNA STB Attijari Bank BIAT UIB UBCI Amen Bank ATB BT BH
Market Capitalisation (2008)
851 625
636 650
470 000 450 000 450 000357 600
290 700 256 760 223 740 182 000
0
200 000
400 000
600 000
800 000
1 000 000
BT BIAT UBCI Attijari Bank BH ATB Amen Bank UIB STB BNA
2.3. UBCI Presentation: UBCI vs. Sector
16
Total Assets (2008)
5 730 5 579 5 5754 356
3 246 3 154 2 840 2 400 2 115 1 692
0
2 000
4 000
6 000
8 000
STB BNA BIAT BH Amen Bank ATB Attijari Bank BT UIB UBCI
TN
D m
illio
ns
Total Equity (2008)
484 446 441 411367
304 273176 137
72
0
200
400
600
STB BIAT BT BNA BH Amen Bank ATB UBCI Attijari Bank UIB
TN
D m
illio
ns
2.3. UBCI Presentation: UBCI vs. Sector
Size Indicators
17
Net Banking Income (2008)
261220 218
187
126 131 129 11793 91
0
50
100
150
200
250
300
BIAT STB BNA BH BT Amen Bank Attijari Bank ATB UBCI UIB
TN
D m
illio
ns
Net Profit (2008)
6354
41 40 38 34 32 3224
10
20
40
60
80
BT BH Attijari Bank Amen Bank ATB BIAT STB BNA UBCI UIB
TN
D m
illio
ns
2.3. UBCI Presentation: UBCI vs. Sector
Financial Indicators
18
Return On Equity (2008)
29,77%
14,70% 14,23% 13,75% 13,70% 13,17%7,72% 7,57% 6,66%
1,28%
0%
10%
20%
30%
40%
Attijari Bank BH BT UBCI ATB Amen Bank BNA BIAT STB UIB
Return On Assets (2008)
2,62%
1,44% 1,43%1,24% 1,24% 1,19%
0,61% 0,57% 0,56%
0,04%0%
1%
1%
2%
2%
3%
3%
BT Attijari Bank UBCI BH Amen Bank ATB BIAT BNA STB UIB
Net Brokerage Profit (2008)
12,28% 11,80% 10,80% 10,72%
6,80%5,49% 5,15% 4,30% 4,04% 2,87%
0%
5%
10%
15%
STB BIAT BH BNA BT AB Attijari UBCI UIB ATB
2.3. UBCI Presentation: UBCI vs. Sector
Financial Indicators
19
3. Foreign Exchange Regulation
20
Non-residents' accounts
Foreign accounts in foreign currency or convertible Dinars
•They can be opened freely by resident individuals or legal entities whatever their
nationality is. They are freely credited and debited in foreign currency.
•Special accounts in Dinars.
•They may be opened freely by non resident foreign enterprises that stroke
bargain in Tunisia in order to place the share of these bargains payable in Dinars
intended to cover their local expenditures.
Imports
Regime and procedures
•All imports are free except those concerning security, public order, morality,
fauna and flora protection and cultural heritage. Import of some products, such
as some ranges car, remains temporarily submitted to prior authorization.
•Imports are submitted to the obligation of payment by bank's order through an
authorised intermediary (a domiciliation of a commercial invoice is required).
3. Foreign Exchange Regulation
21
•Products excluded from the regime of free foreign trade are imported as per
an authorization delivered by the Minister in charge of Trade.
•Companies totally exporting goods and services as well as those established
in economic free zone may import freely, without foreign trade formalities, all
necessary products to their production subject to their customs declaration.
•Settlement
•Import settlement is freely executed by the A.I. after the effective entry of
goods justified by customs charging.
•No guarantee is due for down payment for import of products tied to
production.
•The settlement of goods may be executed before their reception subject to
justifying their direct and exclusive shipment to Tunisia.
3. Foreign Exchange Regulation
22
Tunis Trade Center Contacts
Wissem Zayene Hatem Tagourti
Senior Trade Manager Senior Trade Manager
Tél: + 216 71 15 48 61 Tél: + 216 71 15 48 60
[email protected] [email protected]
Jamal Sellami Faical Bouaziz
Senior Trade Manager Senior Trade Manager
Tél: + 216 71 15 48 59 Tél: + 216 74 40 19 93
[email protected] [email protected]
Trade Center Head
Monam BelhoulaTél: + 216 71 15 48 56
23
Thank You
for your attention
24
Disclaimer
•This document has been prepared by BNP PARIBAS for informational purposes only. Although the information in
this document has been obtained from sources which BNP PARIBAS believes to be reliable, we do not represent
or warrant its accuracy, and such information may be incomplete or condensed. This document does not
constitute a prospectus or solicitation and is not intended to be and must not be the sole basis for any evaluation
of the securities discussed herein. All estimates and opinions included in this document constitute our judgement
as of the date of the document and may be subject to change without notice. Changes to assumptions may have
a material impact on any recommendations made herein.
•BNP PARIBAS or its affiliates may, from time to time, have a position or make a market in the securities
mentioned in this document, or in derivative instruments based thereon, may solicit, perform or have performed
investment banking, underwriting or other services (including acting as adviser, manager or lender) for any
company, institution or person referred to in this document and may, to the extent permitted by law, have used the
information herein contained, or the research or analysis upon which it is based, before its publication. BNP
PARIBAS or its affiliates will not be responsible for the consequences of reliance upon any opinion or statement
contained herein or for any omission.
•This document is confidential and is being submitted to selected recipients only. It may not be reproduced (in
whole or in part) to any other person without the prior written permission of BNP PARIBAS
© 2009 BNP PARIBAS. All rights reserved.