Societe Tunisienne de Banque – Ratings Affirmed with Stable Outlook

16 October 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Societe Tunisienne de Banque (STB or the Bank) at ‘C+’ and ‘C’, respectively. At the same time, CI Ratings has affirmed STB’s Bank Standalone Rating (BSR) of ‘c’, Core Financial Strength (CFS) rating of ‘b’ and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and the BSR remains Stable.

STB’s LT FCR and BSR are constrained by CI’s internal assessment of sovereign credit risk for Tunisia. The Stable Outlook for the LT FCR is in line with CI’s internal assessment of sovereign risk for Tunisia, reflecting signs of stabilising sovereign risk factors – albeit still at a very high level. The outlook takes into consideration the narrowing current account deficit, supported by an increase in agricultural exports and tourism receipts….