According to Credit Libanais’ Income Statement, the bank’s net profit posted a 19% year-on-year upturn to $53.75M by September. The higher profit came about as net interest income grew by a yearly 11% to $111.16M despite a 2% yearly decrease in net fees and commissions income to $27.56M.
The bank’s balance sheet revealed a 6% year-to-date growth in total assets to $9.75B with Net Loans and advances to customers increasing by 5% year-to-date to $2.97B.
On the liabilities side, deposits from customers and related parties as well as total equity advanced by 7% and 3% since year-start to $8.28B and $819M by September.
Credit Libanais – September 2015 Financial Highlights
|In millions of USD||Sep-15||Dec-14||YTD|
|Total Assets|| 9,751|| 9,162||6%|
|Net Loans and Advances to Customers|| 2,974|| 2,832||5%|
|Customer Deposits|| 8,275|| 7,739||7%|
|Total Equity|| 819.00|| 794.04||3%|
|Net Profit for the Year|| 53.75|| 45.15 (*)||19%|
Source: Credit Libanais
(*): Value of September 2014