According to the consolidated financial statements of BLC Bank, the bank’s net profit for the first three months of the year totaled $10.52M up by 14% year-on-year.
According the banks’ accompanying highlights, “recurrent income from the operations in Lebanon, which is constituted mainly of net interest and net commissions, reached $13.1M till March 2017, up by +6.2% from the $12.33M registered till March 2016”.
The bank’s total assets slid by 0.38% from $5.74B as at December 31, 2016 to $5.72B during the first quarter of 2017 (Q1 2017).
Loans and advances to customers increased by 1.07% since year start to amount to $1.87B as at March 31, 2017.
Consolidated total deposits decreased by 1.2% year-to-date to settle at $4.63B as at March 31, 2017.
According to BLC’s statement “Consolidated Capital Adequacy ratio stands at 16.3%, compared to a 14% required by the Central Bank.”
BLC Bank’s Financial Highlights
In $ million | Dec-16 | Mar-17 | YTD |
Total Assets | 5,744.64 | 5,723.08 | -0.38% |
Loans and Advances to Customers | 1,845.72 | 1,865.51 | 1.07% |
Customers’ Accounts at Amortized Cost | 4,690.50 | 4,632.43 | -1.24% |
Shareholders’ Equity | 577.91 | 588.45 | 1.82% |
Net Profit for the Period | 9.24 (*) | 10.52 | 13.86% |
(*): Value of March 2016
Source: BLC Bank, Beirut Stock Exchange