According to its financial statements, BEMO Bank managed to post a 17.86% year-on-year (y-o-y) growth in its net profits to $3.70M in the first quarter (Q1) of 2016. This came as a result of the 11.52% and 41.76% yearly increases in net interest income and net fees and commission income to $6.73M and $1.53M, respectively, by March 2016.
Total assets saw a 0.75% year-to-date (y-t-d) uptick to $1.63B, as loans to customers added 1.05% since year-start to $682.19M in Q1, 2016.
On the liabilities side, customer deposits narrowed 0.99% y-t-d to stand at $1.29B by March.
As for shareholders’ equity, it broadened 0.75% since year start to $1.63B end of Q1 2016.
BEMO Bank’s Financial Results
Source: BSE News