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BIAT

Banque Internationale Arabe de Tunisie Société anonyme BVMT:BIAT Stock Report

Last Price

د.ت83.90

Market Cap

د.ت1.5b

7D

4.9%

1Y

34.5%

Updated

30 Sep, 2022

Data

Company Financials +
BIAT fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance3/6
Financial Health4/6
Dividends3/6

BIAT Stock Overview

Banque Internationale Arabe de Tunisie Société anonyme provides various banking products and services in Tunisia.

Banque Internationale Arabe de Tunisie Société anonyme Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Banque Internationale Arabe de Tunisie Société anonyme
Historical stock prices
Current Share Priceد.ت83.90
52 Week Highد.ت83.98
52 Week Lowد.ت54.55
Beta-0.079
1 Month Change11.87%
3 Month Change18.81%
1 Year Change34.46%
3 Year Change-20.50%
5 Year Change-24.57%
Change since IPO67.29%

Recent News & Updates

Shareholder Returns

BIATTN BanksTN Market
7D4.9%4.4%1.2%
1Y34.5%23.1%2.7%

Return vs Industry: BIAT exceeded the TN Banks industry which returned 23.1% over the past year.

Return vs Market: BIAT exceeded the TN Market which returned 2.7% over the past year.

Price Volatility

Is BIAT's price volatile compared to industry and market?
BIAT volatility
BIAT Average Weekly Movement2.0%
Banks Industry Average Movement2.5%
Market Average Movement3.2%
10% most volatile stocks in TN Market5.3%
10% least volatile stocks in TN Market2.0%

Stable Share Price: BIAT is less volatile than 75% of TN stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: BIAT's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1976n/aMohamed Agrebihttps://www.biat.com.tn

Banque Internationale Arabe de Tunisie Société anonyme provides various banking products and services in Tunisia. The company offers accounts and deposits, savings, investments, consumer loans, mortgages, insurance, financing of the bank, investment, financing of the operating cycle, and international operation products and services; and operational support to the activities of large companies and institutional investors, as well as corporate and investment, various everyday banking services. It also engages in the capital market, corporate finance, capital investment, and the other financial activities, as well as provision of web and mobile banking, self-service space, ATM, and customer relations center services.

Banque Internationale Arabe de Tunisie Société anonyme Fundamentals Summary

How do Banque Internationale Arabe de Tunisie Société anonyme's earnings and revenue compare to its market cap?
BIAT fundamental statistics
Market Capد.ت1.50b
Earnings (TTM)د.ت283.43m
Revenue (TTM)د.ت879.25m

5.3x

P/E Ratio

0.8x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BIAT income statement (TTM)
Revenueد.ت879.25m
Cost of Revenueد.ت0
Gross Profitد.ت879.25m
Other Expensesد.ت595.82m
Earningsد.ت283.43m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)15.88
Gross Margin100.00%
Net Profit Margin32.24%
Debt/Equity Ratio30.1%

How did BIAT perform over the long term?

See historical performance and comparison

Dividends

6.2%

Current Dividend Yield

33%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is BIAT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BIAT?

Other financial metrics that can be useful for relative valuation.

BIAT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio2.3x

Price to Earnings Ratio vs Peers

How does BIAT's PE Ratio compare to its peers?

BIAT PE Ratio vs Peers
The above table shows the PE ratio for BIAT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.7x
BT Banque de Tunisie Société anonyme
10.2x-0.5%د.ت1.5b
TJARI Banque Attijari de Tunisie Société anonyme
9.7x2.8%د.ت1.6b
UIB Union Internationale de Banques Société anonyme
6.1x-15.6%د.ت698.1m
AB Amen Bank Société anonyme
4.8xn/aد.ت651.4m
BIAT Banque Internationale Arabe de Tunisie Société anonyme
5.3x2.3%د.ت1.5b

Price-To-Earnings vs Peers: BIAT is good value based on its Price-To-Earnings Ratio (5.3x) compared to the peer average (7.7x).


Price to Earnings Ratio vs Industry

How does BIAT's PE Ratio compare vs other companies in the African Banks Industry?

Price-To-Earnings vs Industry: BIAT is good value based on its Price-To-Earnings Ratio (5.3x) compared to the African Banks industry average (5.5x)


Price to Earnings Ratio vs Fair Ratio

What is BIAT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BIAT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.3x
Fair PE Ratio7.2x

Price-To-Earnings vs Fair Ratio: BIAT is good value based on its Price-To-Earnings Ratio (5.3x) compared to the estimated Fair Price-To-Earnings Ratio (7.2x).


Share Price vs Fair Value

What is the Fair Price of BIAT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BIAT (TND83.9) is trading above our estimate of fair value (TND51.4)

Significantly Below Fair Value: BIAT is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Banque Internationale Arabe de Tunisie Société anonyme forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


2.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BIAT's forecast earnings growth (2.3% per year) is below the savings rate (8.9%).

Earnings vs Market: BIAT's earnings (2.3% per year) are forecast to grow slower than the TN market (6.4% per year).

High Growth Earnings: BIAT's earnings are forecast to grow, but not significantly.

Revenue vs Market: BIAT's revenue (13.2% per year) is forecast to grow faster than the TN market (7.8% per year).

High Growth Revenue: BIAT's revenue (13.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BIAT's Return on Equity is forecast to be low in 3 years time (14.3%).


Discover growth companies

Past Performance

How has Banque Internationale Arabe de Tunisie Société anonyme performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


8.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BIAT has high quality earnings.

Growing Profit Margin: BIAT's current net profit margins (32.2%) are higher than last year (31.8%).


Past Earnings Growth Analysis

Earnings Trend: BIAT's earnings have grown by 8.1% per year over the past 5 years.

Accelerating Growth: BIAT's earnings growth over the past year (2.1%) is below its 5-year average (8.1% per year).

Earnings vs Industry: BIAT earnings growth over the past year (2.1%) underperformed the Banks industry 38.9%.


Return on Equity

High ROE: BIAT's Return on Equity (12.8%) is considered low.


Discover strong past performing companies

Financial Health

How is Banque Internationale Arabe de Tunisie Société anonyme's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

4/6

Financial Health Score 4/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BIAT's Assets to Equity ratio (8.2x) is low.

Allowance for Bad Loans: Insufficient data to determine if BIAT has a sufficient allowance for bad loans.

Low Risk Liabilities: 90% of BIAT's liabilities are made up of primarily low risk sources of funding.

Loan Level: BIAT has an appropriate level of Loans to Assets ratio (69%).

Low Risk Deposits: BIAT's Loans to Deposits ratio (87%) is appropriate.

Level of Bad Loans: Insufficient data to determine if BIAT has an appropriate level of bad loans.


Discover healthy companies

Dividend

What is Banque Internationale Arabe de Tunisie Société anonyme current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


6.20%

Current Dividend Yield

Dividend Yield vs Market

Banque Internationale Arabe de Tunisie Société anonyme Dividend Yield vs Market
How does Banque Internationale Arabe de Tunisie Société anonyme dividend yield compare to the market?
SegmentDividend Yield
Company (Banque Internationale Arabe de Tunisie Société anonyme)6.2%
Market Bottom 25% (TN)3.5%
Market Top 25% (TN)6.2%
Industry Average (Banks)5.9%
Analyst forecast in 3 Years (Banque Internationale Arabe de Tunisie Société anonyme)7.7%

Notable Dividend: BIAT's dividend (6.2%) is higher than the bottom 25% of dividend payers in the TN market (3.47%).

High Dividend: BIAT's dividend (6.2%) is low compared to the top 25% of dividend payers in the TN market (6.2%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether BIAT's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if BIAT's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (32.7%), BIAT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BIAT's dividends in 3 years are forecast to be covered by earnings (83% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

9.7yrs

Average board tenure


CEO

Mohamed Agrebi

8.33yrs

Tenure

Mr. Mohamed Agrebi has been the General Manager of Banque Internationale Arabe de Tunisie Société anonyme since May 23, 2014.


Board Members

Experienced Board: BIAT's board of directors are considered experienced (9.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of BIAT?
Owner TypeNumber of SharesOwnership Percentage
Institutions1,065,7536.0%
Individual Insiders1,648,4399.2%
General Public6,114,02134.3%
Private Companies9,021,78750.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 13 shareholders own 65.75% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
35.42%
Mabrouk Group
6,322,283TND530.4m0%no data
8.05%
Ste Meninx Holding
1,436,381TND120.5m0%no data
5.68%
Horchani Finance, Asset management arm
1,013,819TND85.1m0%100%
3.9%
T.T.S. Financiere
695,748TND58.4m0%no data
3.18%
IFICO SA
567,375TND47.6m0%no data
2.56%
Karim Milad
457,599TND38.4m0%no data
1.61%
Hend Fakhfakh
288,268TND24.2m0%no data
1.47%
Kamoun Habib
262,673TND22.0m0%no data
1.41%
Khaled Fakhfakh
251,932TND21.1m0%no data
1.1%
Dorra Milad
195,752TND16.4m0%no data
1.08%
Meriam Milad
192,215TND16.1m0%no data
0.29%
Eaton Vance Management
51,878TND4.4m0%no data
0.00031%
Eurizon Capital S.A.
56TND4.7k0%no data

Company Information

Banque Internationale Arabe de Tunisie Société anonyme's employee growth, exchange listings and data sources


Key Information

  • Name: Banque Internationale Arabe de Tunisie Société anonyme
  • Ticker: BIAT
  • Exchange: BVMT
  • Founded: 1976
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: د.ت1.498b
  • Shares outstanding: 17.85m
  • Website: https://www.biat.com.tn

Location

  • Banque Internationale Arabe de Tunisie Société anonyme
  • 70-72, Avenue Habib Bourguiba
  • Tunis
  • 1000
  • Tunisia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BIATBVMT (Bourse des Valeurs Mobilieres)YesShare CapitalTNTNDAug 1996

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/29 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.