BLC’s Net Profit Rose to $43.25 M in 2014

The unaudited consolidated income statement of BLC Bank revealed a 2.7% increase in net profit to $43.25M by end 2014 compared to $42.11M earned in the same period last year. This rise in profit is due to the 10.6% year-on-year increase in the bank’s net interest income to $129.83M and the 3.1% uptick in the net fee and commission income to $19.06M.

As for the bank’s balance sheet, it registered a 4.0% increase in total assets to $5.34B mainly on account of the 3.3% growth in net loans and advances to customers to $1.94B and the 2.3% rise in the investment securities at amortized cost to $2.20B.  On the liabilities’ side, customer’s accounts at amortized cost posted a slight slip of 0.2%, totaling $4.29B while total shareholders’ equity registered an 8.1% growth to $476.75M in 2014.

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