Bank Of Tunis (Arabic ：البنكالتونسي， English: Bank Of Tunis) Is A Bank In Tunisia And Was The First Bank Established In The Country In Modern Times. 130 It Has Been Listed On The Tunisian Stock Exchange Since 1990.
History
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Bank Of Tunis Was Created By Atlantic Bank On September 23, 1884, Converting Its Existing Tunisian Office Into A Full-fledged Local Bank Three Years After The Establishment Of The French Protectorate Of Tunisia. It Is Located In A Small Building Located At Es-Sadikia Street 3 (now Gamal Abdel Nasser Street), Across The Street From The French Protectorate Residence, Which Has Been Demolished. Its Founders Hoped To Obtain From The French Government The Exclusive Right To Issue Banknotes In The Protectorate,: 130, But It Was Eventually Granted To The Bank Of Algeria In 1904.
In 1911, The Bank Of Tunisia Participated In The Creation Of The Commercial Bank Of Morocco, With Transatlantique Bank, Which Was Headquartered In Paris And Had Its Main Office In Casablanca. In 1941, It Was Acquired By Crédit Industriel Et Commercial (CIC), Together With Banque Transatlantique, Which Took Advantage Of Vichy Anti-Semitic Legislation. In 1948, It Absorbed The Tunisian Branch Of The Italian-French Bank Cre ́ Dit, And In 1951 Led The Liquidation Of The Tunis-based Italian Bank Cre ́ Dit, Both Of Which Served Mainly Italian Tunisian Customers.: 131-132
By The Time Of Tunisia's Independence In 1956, CIC Agreed To Transfer A Majority Of Its 70% Stake In Bank Tunis To The Country's Government; At The Time, Most Of The Bank's Employees Were Jewish, And About A Third Of Its Depositors Were Jewish As Well. In 1963, Bank Tunis Acquired Societe Generale's Branches In Tunis And Sfax In Exchange For A 17.5% Stake. Other European And American Banks Subsequently Acquired Minority Stakes In The Bank Of Tunisia.: 132 In 1968, It Acquired The Former Tunisian Operations Of The French Algerian Company (Compagnie Algérienne). In 1977, Tunisian Shareholders Regained A Majority Stake In The Bank's Capital. By The Late 2000s, Tunisian Shareholders Jointly Owned About Three-quarters Of The Bank's Share Capital, While Crédit Mutuel (who Took Over CIC In 1998) Owned 20%. At That Time, The Bank Had The Largest Market Capitalization Of Any Tunisian Listed Company.: 133 Belhassen Trabelsi, Brother Of Leïla Ben Ali, Wife Of President Zine El Abidine Ben Ali, Was One Of The Board Members Of The Bank. At The End Of 2012, Mutul Credit Bank Increased Its Stake To 33% By Acquiring Shares Previously Owned By The Trabelsi Family.
