Coronavirus: United Kingdom, facing worst recession on record, sees GDP drop 20.4% in Q2

The UK has seen its economy, hit by the coronavirus crisis, suffer a "record" contraction of 20.4% in the second quarter, and is officially facing its worst recession on record, agency figures show National Statistics (ONS), published Wednesday 12 August. 
Economists consider that a country enters a technical recession when it accumulates two consecutive quarters of contraction in its economy. According to the ONS, most of the contraction, which began to be felt in March, occurred in April, an entire month of containment and almost total cessation of activity in the country, which saw production collapsed by 20%.

With a very early recovery in construction sites and manufacturing activity, gross domestic product (GDP) rebounded in May by 2.4% (revised figure), followed by an acceleration in June (+8.7 %) thanks in particular to the reopening of all shops. This is the biggest contraction in the UK economy since the ONS began these quarterly statistics in 1955, he said…

BIAT ranked among African banks with strong regional impact

In its monthly n ° 72 published in July 2020, Financial Afrik ranked BIAT among the 30 African banks with high impact. It is the only Tunisian bank to be part of this ranking.

BIAT ranked among African banks with strong regional impact

BIAT ranks 20th in the recently published ranking of high impact regional banks in Africa. At the top of the ranking, we find the South African banks, far ahead of Moroccans, Nigerians and Egyptians in terms of total balance sheet.

To establish this classification, the experts of Financial Afrik were based on several numerical criteria. It emerges from this that the assets depend on the demography, GDP, degree of industrialization of the country of origin. As well as its openness and integration into global financial and industrial value chains.

Financial Afrik presented in its analysis several observations on the banking dynamics of the African region. Indeed, Moroccan banks are those which have succeeded in their geographic diversification. And this, ensuring the junction between the Mediterranean and the Indian Ocean.

Another fundamental finding revealed by the analysis is the continued withdrawal of English and French banks from the continent, the premise of a new configuration of the African private sector.

A benchmark player in Tunisia, BIAT works on a daily basis to support the Tunisian economy. As well as supporting economic players and entrepreneurs in their development projects.