Bank of Beirut (BoB) witnessed a 12.03% annual rise in its net income over the first nine months of the year to $138.02M. This increase can be traced back to the 41.42% surge in net income from securities at fair value through profit and loss (FVTPL) to $50.40M, since net interest income and net fee and commission income registered small gains of 2.18% and 2.16% y-o-y to respective values of $170.37M and $58.00M.
Total liabilities and shareholder equity increased by 10.10% y-t-d to $15.39B, as customer deposits totaled $11.31B, up from $10.28B at the start of the year. On the asset side, loans and advances to customers also improved by 1.56% to $4.10B.
Shareholders’ equity gained 13.43% to $1.99B over the first nine months of the year.
BoB common shares closed on Friday at $18.40. Based on the released financials, earnings per common share stood at LBP 2,903 and earnings per preferred share reached LBP 4,213.
BoB’s Financial Results ($B)
| ||Sept 30, 2015||Dec 31, 2014||% change|
|Loans and Facilities to Customers||4.10||4.03||1.56%|
|Shareholders’ Equity ||1.99||1.76||13.43%|
|Net Profit ($M)||138.02||123.19*||12.03%|
|* September 2014|
Source: BSE News