BLC’s 2016 Profits are Up by a Yearly 2.45%

As per BLC’s consolidated financial statements, net income climbed by 2.45% year on year (y-o-y) to stand at $45.2M in December 2016.  In details, Net Fees & Commission Income, the bulk of BLC’s income from operations in Lebanon, rose by 3.86% to $18.85M, while Net interest income stood at $120.19M, 4.54% lower than its December 2015 level.

On the balance sheet, Net Loans and Advances to customers declined by 3.09% to $1.85B, as BLC announced the redemption of several special loans throughout the year. In addition, according to BLC’s statement, although the devaluation of the euro/dollar exchange rate had a negative impact on consolidation, BLC’s Total Assets remained unchanged, at $5.75B as of December 31, 2016.

As for liabilities, Customers’ Deposits at BLC registered a 2.36% y-o-y growth to $4.7B, while Shareholders’ Equity improved by 13.89% to stand at $575.41M by Dec. 2016.

Financial Highlights of BLC ($B)

Dec-16Dec-15% change
Net Profits ($M)45.2044.10+ 2.45%
Total Assets5.755.74+ 0.1%
Customers’ Deposits4.704.58+ 2.36%
Shareholders’ Equity0.5750.505+ 13.89%
Net Loans and Advances to Customers1.85   1.91    -3.09%

Source: Beirut Stock Exchange (BSE)

Leave a Reply

Your email address will not be published. Required fields are marked *