Bank BEMO’s Net Profit Up by an Annual 13.55% to $4.61M in Q1 2019

According to Bank BEMO’s unaudited consolidated financial statements, the bank’s profit for 2019’s first quarter (Q1) totaled $4.61M compared to $4.06M in the same period last year.

Total assets of the bank increased by 1.88% since year-start to $2.06B, with Loans and advances to customers at amortized costs decreasing by 6.27% year-to-date (y-t-d) to $680.72M.. Meanwhile, Customers’ deposits at amortized costs slipped by 2.83% since year start to settle at $1.24B in Q1 2019. As for the Shareholders’ equity, it grew by 2.44% y-t-d to $194.54M.

Bank BEMO Financials: Q1 2019

In $ million Mar-19 Dec-18 YTD
Total Assets 2,061 2,023 1.88%
Loans and Advances to Customers at Amortized Cost 680.72 726.24 -6.27%
Customers’ Deposits at Amortized Cost 1,236 1,272 -2.83%
Shareholders’ Equity 194.54 189.91 2.44%
Profit for the Period (*) 4.61 4.06 13.55%

 

(*): Value of March 2018

Source: BEMO Bank, Beirut Stock Exchange

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