Commercial banking tycoon and executive Mehdi Tamarziste’s stake in Tunisia-based financial services provider, Union Bancaire pour le Commerce et l’Industrie (UBCI), has risen by $2.2 million since the start of the year, taking the market value of his interest above the $20-million mark.
UBCI is a significant commercial bank and an operational subsidiary of BNP Paribas, a French global banking organization that is Europe’s largest and the world’s seventh-largest by assets.
The Tunisian bank is led by Tamarziste, who has a significant 12.9-percent interest in the lender, totaling 2,588,159 shares.
The $2.2-million increase in his stake since the year began may be attributed to retail investors continuing to purchase shares in the company in expectation of better-than-expected year-end financial results.
As of press time on Feb. 17, shares in the commercial bank on the Bourse de Tunis (Tunis Stock Exchange) were trading at TND22.25 ($7.7), unchanged from their starting price this morning, as negative and positive pressures were evenly wiped out.
Since the beginning of 2022, the bank’s shares on the Tunis Stock Exchange have climbed from TND19.80 ($6.9) to TND22.25 ($7.7) as of the time of writing this article, representing a 12.4-percent return to its owners.
As a result of the price rise, the market value of Tamarziste’s 12.9-percentage equity position in the bank has climbed by TND6.3 million ($2.2 million) since the beginning of the year, placing it beyond the $20-million mark.
Research conducted by Billionaires.Africa revealed that his stake has risen from TND51.2 million ($17.8 million) at the start of trading this year to TND57.6 million ($20.04 million) at the time of writing this article.
The bank’s market capitalization has climbed by TND49 million ($17.1 million) since the beginning of 2022, from TND396 million ($137.8 million) to TND445 million ($154.9 million).
UBCI recently inked a TND150-million ($52.5 million) medium-term financing arrangement with the Tunisian microfinance organization Enda Tamweel, as part of its commitment to reaching individuals and companies in Tunisia who have limited access to loans and other credit facilities.
