The TFB is for sale. Two Tunisian banks want it

Created in 1977, the TFB (Tunisian Foreign Bank) is a bank under French law affiliated to the French Banking Federation. Its capital is held by Tunisian financial institutions, including 14% for the Tunisian State, 49.5% for STB, and 34% for BH Bank. With a share capital of €26.9 million in 2020, it has five agencies in France and an offshore branch in Tunis through which it carries out its domestic and international activities.

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At the end of 2020, the bank’s NBI fell by 22.1% compared to the previous year, to barely exceed €4 million (13.1 MTD. Deficit of almost €5.5 million, the RBE gave already the tone for the net result which was also in deficit of 3.934 M€ (12.7 MTD).

  • Restoration, the synergies project is underway

Despite these negative figures from the only French bank with Tunisian capital, whose 2020 financial year had been marked by the sale for €2 million of two bank properties, it still seemed that its general condition would have improved and that , even if it is not yet on its feet, it has been restored to working order. ” In 2020, the collection of resources increased by 10%, the cost of risk fell very sharply, the implementation of PGEs (loans guaranteed by the State), made it possible to avoid the catastrophic default scenario. The 2020 deficit (-€3.934 million) is the lowest since 2012. Currently the crisis does not seem to threaten the continuity of TFBank’s activity. The capital increase project of a majority shareholder and transformation through synergies and closer collaboration is in the process of being implemented. “, thus testify its French auditors.

This bank is now offered for sale, partially leaving the STB there, or all of the capital, the BH Bank not being interested in remaining in the capital of the TFB (and not the BFT). A 1time operation had been launched a few years ago, but the seller State was not happy with the price, which would have been 15 million euros. The STB was then tempted to take the majority of the capital, without succeeding, in particular for the importance of the funds to be devoted to put the TFBank back on its feet and ensure its profitability in a sustainable manner. From now on, the Tunisian State would aim to sell it to a Tunisian individual, or to a duo between Tunisian operator & foreign strategic partner.

  • A rare prime opportunity for two Tunisian banks

The sale of this precious foreign bank card in France has already started in France, and the Due-Deal is still in progress. Two Tunisian banking entities, two major Tunisian private banks, would be interested and would have taken part in the Due-Deal and would have already had access to the Data-Room. The two private banks would thus aim to expand their presence abroad and develop their business there. The TFBank, restored to working order, thus represents an opportunity, even indirect for Tunisia, to ensure the sustainability of its financial presence in France, where the TFBank represents a gold bargain in a banking landscape where cards are becoming more than rare. The Tunisian or the Tunisian who would take over this French bank with Tunisian capital, will also have the capacity to support the development of trade with a regional platform which represents 80% of Tunisian exports, and no less a large part of Tunisian imports from Europe. This, without counting the clientele of 800,000 Tunisians settled in France, and the 30,000 French in Tunisia, who represent a population permanently settled in the country, made up of 67% dual nationals. Populations, for whom TFBank, which also has a subsidiary in Tunisia, can represent a financial gateway of choice.

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