According to BLC Bank’s unaudited consolidated financial statements, the bank’s net Profit fell from $34.96M to $28.94M in Q3 2017.Worth mentioning, this major fall is attributed to the new tax law. In Details, both “Net interest Income” and “Net fee & commission income” increased by 2.61% & 0.17% to reach $74.94M & $13.43M, respectively.
Total assets of the bank grew by only 0.3% from December last year to reach $5.88B. In details, the amount of deposits with banks and financial institutions increased to $164.36M compared to $104.06M in 2017. However, “Loans to customers at amortized costs” recorded a downtick of 0.20% year-to-date (y-t-d) from $ 1.6B to $1.597 B.
On the Liabilities side, “Cash reserves and deposits at the Central Bank” rose by 2.6% since year start to settle at $3.93B in Q3 2018. As for the total Shareholders’ equity, it increased by 1.38% y-t-d to reach $565M.
|BLC Bank’s Financial Highlights in Q3 2018|
|(In millions of US$)||Dec 2017||Sep 2018||YTD|
|Loans and Advances to Customers||1,601||1,597||0.21%|
|Profit for the Period||34.96*|| 28.9*||-17.21%|
Source: BLC Bank, BSE