(TAP)- Sixteen Tunisian banks posted a cumulated profit of 1,478 million dinars (MD) in 2019 against 18 banks with 1,227 MD in 2018, the Central Bank of Tunisia (BCT)'s report on banking supervision for 2019 revealed.

Seven banks reported deficit amounting to 165 MD compared to five banks with 70 MD in losses in 2018.

The cumulated profit for 2019 was taken to the reserves following the decision of the central bank to invite financial establishments to suspend measures in relation to the distribution of dividends for 2019 and refrain from carrying out share buy-back operations.

The ultimate goal is to boost their capital position to handle potential risks in connection to the economic fallout from the COVID-19 pandemic.

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