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