Bank of Beirut Reveals a Rise in Net Profits to $123.19M in September

Bank of Beirut’s (BoB) net profits added 15.30% year-on-year (y-o-y) to $123.19M, in September 2014. This was driven by the 16.43% and 3.93% upsurge in net interest income and net fees and commission income to $123.19M and $166.74M, which outweighed the 11.10% rise in net operating expense that stood at $50.14M.

BoB’s balance sheet unveiled a 17.40% y-o-y growth in total assets to $13.94B, by September 2014, triggered by the 13.96% expansion in loans and advances to customers, to $3.89B.

On the liabilities side, customers’ deposits broadened by 14.36%, compared to the same period last year, to $10.28B.

Concomitantly, total equity rose by 15.44% to $1.76B by end of the third quarter of 2014.

 

BoB Financial Highlights

 Sep-14Sep-13%change
Total Assets             13.94         11.8717.40%
Loans and Advances to Customers               3.89           3.4113.96%
Customers’ Deposits             10.28           8.9914.36%
Shareholders’ Equity               1.76           1.5215.44%
Profit/Loss (in $M)           123.19       106.8415.30%
 Source: BSE News

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