BLC’s Net Profit Reached $24.87M, Up by an Annual 27.52% in H1 2017

 Financial Highlights of BLC Bank: June 2017

(In millions of US$)        Jun-17        Dec-16 YTD
Total Assets                                        5,850.28                             5,749.49 1.75%
Loans and Advances to Customers                                         1,875.06                                        1,850.57 1.32%
Customers’ Accounts at Amortized Cost                                         4,758.36                             4,690.50 1.45%
Shareholders’ Equity                                          594.07                                         577.91 2.80%
       
(In millions of US$)        Jun-17        Jun-16 YOY
Net Profit for the Period         24.87           19.50 27.52%

Source: BLC Bank, Beirut Stock Exchange

According to the consolidated financial statements of BLC Bank, the bank’s net profit for the first half of the year totaled $24.87M, up by an annual 27.52%.

According the bank’s financial highlights, “recurrent income from the operations in Lebanon […] constituted mainly of net interest and net commissions, reached $25.6M till June 2017, up by +3% from the $24.9M registered till June 2016”.

The bank’s total assets registered a 1.75% year-to-date (y-t-d) uptick to $5.85B during the first half of 2017 (H1 2017).

Loans and advances to customers rose by 1.32% since year-start, to amount to $1.88B, as at June 30, 2017.

On the liabilities side, customers’ deposits added 1.45% y-t-d, to settle at $4.76B as at June 30, 2017, while shareholders’ equity increased by 2.8% y-t-d to $594.07M.

According to BLC’s statement “Consolidated Capital Adequacy ratio stands at 16.3%, compared to a 14.5% required by the Central Bank.”

 

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