Tunisian Saudi Bank History and Business Evolution

Tunisian Saudi Bank has a rich history that spans several decades. It was established in 1987 as a joint venture between the Saudi Arabian government and the Tunisian government.

The bank's business evolution has been significant, with a strong focus on providing financial services to individuals and businesses in Tunisia and the Middle East. Tunisian Saudi Bank has a strong presence in the region, with a network of branches and ATMs.

The bank's commitment to innovation has been key to its success, with the introduction of new technologies and services to improve customer experience. This has enabled Tunisian Saudi Bank to stay ahead of the competition and meet the evolving needs of its customers.

Tunisian Saudi Bank has a strong reputation for stability and reliability, which has been built over many years of operation.

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The Tunisian Saudi Bank's financial performance has been quite varied from year to year. The bank's net result was negative in 2020, with a loss of 14.8 million dinars.

In 2019, the bank's net result was a loss of 2.8 million dinars. The bank's Net Banking Income (PNB) decreased by 8 percentage points to 45 million dinars in 2020.

The bank's expenses, including operating expenses, increased significantly in 2020, with a 14% rise.

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The Tunisian Saudi Bank's management and governance structure has undergone some changes recently. The position of Director General has been vacant since Khalil Chtourou left the role in 2021.

Khalil Chtourou, a former Secretary of State for Finance and Public Finances, held the position of Director General from March 2021, succeeding Jamel Belhaj Abdallah.

The current state of the Director General position is uncertain, with Nabil Chahdoura's name being considered for the role by the Ministry of Finance.

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The Tunisian Saudi Bank, or TSB, has a rich history that dates back to May 30, 1981. This is when a convention was signed between Tunisia and Saudi Arabia, marking the beginning of the bank's journey.

Initially, the bank was established with a capital of 100 million dinars, which was later revised upwards. The capital was shared between Tunisia and Saudi Arabia.

TSB started as a development and investment bank, known as the Société Tuniso-Saoudienne d'Investissement et de Développement, or STUSID. This name was used for nearly 25 years.

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TSB's mission was to promote and implement innovative projects in Tunisia, making it a crucial support for investment, especially for joint projects between Tunisia and Saudi Arabia.

In 2017, STUSID transformed into the TSB we know today. TSB is now a member of the system of guarantee of bank deposits, a fund established in accordance with Law No. 48 of July 11, 2016, which aims to protect depositors by outlining the conditions for compensation in case of deposit unavailability.

The group TSB increased its capital to 170 million dinars after issuing 700,000 new shares.

These new shares were made available for subscription in full or in cash, with each share having a nominal value of 100 dinars.

This change was made possible by a meeting of the company's Extraordinary General Assembly, which approved the capital increase.

The Tunisian Saudi Bank (TSB) has a vacant position for General Director, as announced by the Ministry of Finance on May 20, 2022, with an open call for applications.

Khalil Chtourou previously held the position, designated in March 2021, after serving as Secretary of State for Public Finance and Taxation.

Jamel Belhaj Abdallah held the position before Khalil Chtourou.

Nabil Chahdoura's name has been reportedly shortlisted by the Ministry of Finance for the position of General Director.

The Conseil d'Administration of the Tunisian Saudi Bank (TSB) is led by Abdulrahman Mohamed Ramzi ADDES.

Their board members are a diverse group, with Jassir Abdukarem ALJASSIR, Faisal Mohammed ALSHARIF, and Meyassar Anwar NOWAILATI serving as members.

Ehab Youssef LINJAWI, Amel BOUGHDIRI, and Zouhaier ATALLAH are also part of the team, bringing their expertise to the table.

Rayyan Mohammed NAGADI, Tawfik Abbas, and Lotfi HABIB are additional members of the board, contributing to the decision-making process.

Abdelahamid RAZZAM serves as an Independent Member, providing an outside perspective to the group.

Here is a list of the Conseil d'Administration members: