Al Baraka Bank Tunisia, a subsidiary banking unit of Al Baraka Banking Group, saw total operating income increase by 3 per cent last year.

Total operating income rose from $18.73 million in 2009 to $19.29 million last year because of a remarkable growth in financing and investments coupled to an increase in fee income.

After deducting operating expenses, the net operating income amounted to $11.66 million compared with $11.18 million the previous year.

"The bank's performance last year was very positive," said Al Baraka Bank Tunisia chairman Abdul Elah Abdulrahim Sabbahi.

"It is a proof that the bank is well established in the Tunisian market and that it was able to make the most of the opportunities available in this rapidly growing market."

Al Baraka Tunisia's future strategy will be to leverage its new state-of-the-art core banking systems to enhance banking services offered to its customers, including e-banking.

The bank also plans to launch a Gold MasterCard.

Its network will be expanded from the current eight branches to 13 by 2015

"Thanks to its capital and technical resources, the bank was able to capitalise upon the strong performance of the Tunisian economy last year, which recorded an estimated growth of 3.8 per cent over the year," said deputy chairman Laroussi Bayoudh.-TradeArabia News Service