Capital Intelligence affirms ratings for Banque Nationale Agricole stock
Published on 10/19/2026 at 02:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSCredit profile and reporting calendar
- Capital Intelligence affirmed BNA's C+ and C ratings on October 16, 2026.
- Net profit reached TND 156.3 million in the first half of 2026, up 13.8 percent year over year.
- BNA's third-quarter 2026 indicators are due on October 20, 2026.
Banque Nationale Agricole (ISIN TN0003100609) remains under a stable credit outlook after Capital Intelligence affirmed its long-term foreign-currency rating at C+ and its short-term rating at C on October 16, 2026, according to MENAFN. The rating action highlights improving earnings alongside persistent asset-quality pressure.
Three milestones shape the story
On June 30, 2026, BNA reported first-half net profit of TND 156.3 million, up 13.8 percent from TND 137.3 million a year earlier. On September 17, 2026, BNA Capitaux's company note put first-half net banking income at TND 560.1 million, up 4.3 percent year over year, while the bank's deposits rose 10.6 percent to TND 15.393 billion, as reported by AllAfrica.
On October 16, 2026, Capital Intelligence reaffirmed the ratings and stable outlook. Its review also showed operating income up 4 percent at the end of June 2026, while the non-performing loan ratio stood at 28 percent and the loan-to-deposit ratio at 95 percent.
What does the credit risk mean?
The earnings trend gives BNA room to absorb pressure, but the loan book remains the central counterweight. African Manager reported that the classified-loan ratio fell from 22.51 percent to 21.59 percent in the June 2026 statements, while the most troubled loan category reached TND 4.045 billion, up 5.5 percent. The same review put net doubtful loans at TND 1.305 billion, equal to 53 percent of equity.
When are the next figures due?
BNA's third-quarter 2026 indicators are due on October 20, 2026, according to Mizen. That release should show whether deposit growth and first-half profitability have continued into the second half.
Credit profile sets the tone
Banque Nationale Agricole is listed on the Tunis Stock Exchange under the ticker BNA. The combination of 13.8 percent first-half profit growth and a 28 percent non-performing loan ratio leaves investors with a clear trade-off between earnings progress and credit quality.
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