Bank BEMO’s Net Profit Up By 2.48% To $18.89M in 2018

According to Bank BEMO’s unaudited consolidated financial statements, the bank’s profit for 2018 totaled $18.89M compared to $18.43M last year. In fact, the Net interest income grew by 26.85% to $35.21M by December 2018. In turn, Net fees & Commission Income also rose by an annual 4.82% to $5.98M.

Total assets of the bank grew by 14.51% in 2018 to $2.03B. However, net Loans and advances to customers at amortized costs recorded a downtick of 4.68% in 2018 to $726.24M.

Moreover, on the Liabilities side, Customers’ deposits at amortized costs slipped by 6.03% in 2018 to settle at $1.24B. As for the Shareholders’ equity, it increased by a yearly 8.31%  to $188.85M.

Bank BEMO Financials: Q4 2018

 In Millions $ Dec-18 Dec-17
Total Assets 2025.39 1,768.78
Net Loans and Advances to Customers at Amortized Cost 726.24 761.88
Customers’ Deposits at Amortized Cost 1242.43 1322.12
shareholder’s  equity 188.85 174.36
Profit for the period 18.89 18.43

Source: BEMO Bank, Beirut Stock Exchange

 

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