During the extraordinary general assembly held on March 21st, 2016, Bank of Beirut (BoB) shareholders agreed upon the decision to raise the bank’s capital from LBP 105.41B ($69.24 M) to LBP 109.38B ($ 72.56 M) via the issuance of 2,717,500 nominal common shares, worth LBP 1,460 per share.
Accordingly, 34% of these shares were listed on the Beirut Stock Exchange (BSE) on July 13th, 2016, while the remaining shares will be not be listed. Resultantly, the number of listed and non-listed common shares became 17.75M and 35.48M, respectively.
Bank of Beirut Financial Results ($B)
Mar-16 | Dec-15 | % change | |
Net Profits | 43.78 | 40.55* | 7.96% |
Total Assets | 15,996 | 14,415 | 10.97% |
Customers’ Deposits | 11,848 | 10,687 | 11.32% |
Shareholders’ Equity | 2,079 | 1,882 | 10.46% |
Source: BoB Financials