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