BEMO Bank’s financial statements revealed a 19.63% year-on-year (y-o-y) surge in its net profits to $13.43M in 2015. Although net interest income and net fee and commission income dropped 3.92% and 1.19% yearly, to $23.51M and $5.16M, the increase in profits resulted mainly from the increase in write-backs of collective provision against loans from -$616,019 to $1.50M.
On the balance sheet, total assets grew 9.89% to $1.62B as net loans and advances to customers at amortized costs broadened 5.10% to $675.08 in 2015.
On the liabilities side, customers’ deposits at amortized costs increased 10.67% to $1.3B, end of December 2015.
Finally, total equity went up yearly by 5.66% to stand at $134.52M in 2015.
BEMO Bank’s Financial Results ($M)
| Dec-15 | Dec-14 | % Change | |
| Net Profits | 13.43 | 11.23 | 19.63% |
| Total Assets | 1,621.56 | 1,475.67 | 9.89% |
| Customers’ Deposits | 1,300.93 | 1,175.46 | 10.67% |
| Total Equity | 134.52 | 127.32 | 5.66% |
Source: BSE News