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Union Bancaire pour le Commerce et L’Industrie Public limited company: UBCI – Consolidated annual financial statements as of 12/31/2021

CONSOLIDATED FINANCIAL STATEMENTS

BANKING UNION FOR COMMERCE AND INDUSTRY

-UBCI-

Headquarters: 139 Liberty Avenue – Tunis

Union Bancaire pour le commerce et l’Industrie -UBCI- publishes below its consolidated financial statements as of December 31, 2021 as they will be submitted for approval to the ordinary general meeting to be held on April 29, 2022. These statements are accompanied by the report of the Statutory Auditors Mr Mourad GUELLATY and Mr Wael KETATA.

BADVERTISEMENT VSSURSOLID ARETRIEVE AT 31 DECEMBER 2021

(IN THOUSANDS OF DINARS)

Remarks

ASSETS

Cash and assets with the BCT, CCP, and TGT Claims on banking and financial institutions Receivables from customers

Commercial securities portfolio Investment portfolio Fixed assets Deferred tax assets Other assets

31/12/2021

31/12/2020

C.1

327 304

270,050

C.2

411 267

224 225

C.3

2,542,620

C.5

528 102

363 424

C.6

42 114

35,626

C.7

6,172

15,300

C.8

132,997

112,408

TOTAL ASSETS

LIABILITIES

Deposits and assets of banking and financial establishments Deposits and assets of customers

Loans and Special Resources Other Liabilities

3,490,424

C.9

124,017

51,451

C.10

3 076418

2,629,166

C.11

93,353

172 172

C.12

237,040

185 166

TOTAL LIABILITIES

3,037,955

Minority interests in the result Minority interests in the reserves

266

319

2,992

100,008

100,008

327,090

306,662

30,510

42,459

TOTAL GROUP EQUITY

C.13

457 608TOTAL LIABILITIES, MINORITY INTERESTS AND CONSOLIDATED EQUITY

:

The figures for the 2020 financial year have been restated for the purposes of comparability (See note A.2.9 on restatements and reclassifications).E STATEMENT OF CONSOLIDATED OFF-BALANCE SHEET COMMITMENTS A RETRIEVE AT

31

DECEMBER

2021

(IN THOUSANDS OF DINARS)

Remarks

CONTINGENT LIABILITIES

Sureties, endorsements and other guarantees given Documentary credits 31/12/2021

31/12/2020

994 277 294 218 –

1,288,495

C.14

Assets pledged TOTAL CONTINGENT LIABILITIES

COMMITMENTS GIVEN

Financing commitments in favor of customers Commitments on securities

(Participations not paid up)

TOTAL COMMITMENTS GIVEN

COMMITMENTS RECEIVED

Guarantees received TOTAL COMMITMENTS RECEIVED

C.15

1,049,564 289,558 –

1,339,122 C.17

C.18189 468 8

189,476E CONSOLIDATED STATEMENT OF INCOMEP PERIOD FROM 1 IS JANUARY TO

31

DECEMBER

2021

(IN THOUSANDS OF DINARS)

Remarks

Banking products

Interest and similar income Commissions (in income)

Gains on commercial securities portfolio and financial transactions Income from the investment portfolio

Total banking income Banking expenses

Interest incurred and similar charges Commissions incurred

Losses on commercial securities portfolio and financial transactions

Total banking operating expenses

NET BANKING INCOME

Allocations to provisions and result of value adjustments on receivables, off balance sheet and provisions for liabilities

Year ended Year ended 12/31/2021 12/31/2020

C.20

239,024

C.21

61,886

C.22

29,894

C.23

27,718

358,522

C.24

(87,194) (6,838)

(50)

237,964

56,449

25 203

24,855

344 471 (93,490) (7,344) (121)

(100,955) 264,440

(8,493)

  • 243,516 (14,395)

    Allocations to provisions and results of value adjustments on the investment portfolio

    C.27

    (134,585) (98,766)

    General charges of exploitation

    Allocations to depreciation and provisions on fixed assets

    OPERATING RESULT

    Balance in gain / loss from other ordinary items Income taxes RESULT OF ORDINARY ACTIVITIES

    Balance of gain/loss from other extraordinary items Minority interests CONSOLIDATED NET INCOME FOR THE YEAR

    Effects of accounting changes

    NET INCOME FOR THE YEAR AFTER ACCOUNTING CHANGES CONSOLIDATED EARNINGS PER SHARE

(60,789) (7,668) 59,958 (357) (24,091) 35,510 (4,735) (266)

30,510

30,510 1,525 (45,848) C.29 (8,557) 81,977

554 (28,594) 53,937 (11,159) (319)

42,459 42,459 2,123E CONSOLIDATED CASH FLOW STATEMENTP PERIOD FROM 1 IS JANUARY TO

31

DECEMBER

2021

(IN THOUSANDS OF DINARS)

Remarks

Year ended Year ended

31/12/2021

31/12/2020 Banking operating income received Banking operating expenses disbursed

OPERATING ACTIVITIES

Loans and advances / Repayment of loans and advances granted to financial institutions

Deposits / Withdrawals deposits from other banking and financial institutions

Loans and advances / Reimbursement of loans and advances granted to customers

Deposits / Withdrawals deposits with customers Amounts paid to staff and sundry creditors Other operating cash flows

Society taxes

311,580 (102,408)

11,413

(13,782)

(38)

(68)

(89,582)

79,623

449 504

193,070

(163,840)

(148,935) 7,971 2,312

(25,175)

(53,164)

Operating cash flow from non-banking activities

Cash flows allocated to from

operating activities

INVESTMENT ACTIVITIES

Income received from the investment portfolio Acquisitions / Disposals of the investment portfolio Acquisitions and disposals of fixed assets

Cash flows used in investing activities FUNDING ACTIVITIES

Issue/Redemption of shares

Increase / decrease in special resources Dividends paid

Cash received from contributions restricted for the acquisition of fixed assets

Cash flow from (used in)

fundraising activities

Net change in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at year-end

(1,211) 30,847 (163,668) (14,148)

(146,969)

18,154 46,961 (182)

64,933

124 (100,159) (10) (78,831) (21,442)

(134) (87,240) (1,691) (4,907) C.31

(93,972)

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