BLC Bank’s Net Income Witnessed a 16% Yearly Decline

According to BLC Bank’s income statement, the bank’s consolidated net income reached $19.5M in June 2016, 16% lower than the same period last year. This fall can be justified by the booking of additional provisions in USB Bank, BLC Bank’s subsidiary in Cyprus. 

Recurrent income from the operations in Lebanon, mainly constituted of net interest and net commissions, reached $26.5M in June 2016, a 4.3% increase from that of June 2015.

On the balance sheet, total assets narrowed 3.5% year-to-date (y-t-d) to $5.54B, as of June 30, 2016. This drop can be attributed to the maturity of a special loan during 2016.

Customers’ deposits increased 1.2% y-t-d to $4.64B in H1, and 5.2% compared to June 2015. 

As for shareholders’ equity, it grew 1.66% to $513.65M by June 2016.

BLC Bank Financial Highlights ($M)

June-16Dec-15% change
Total Assets       5,540.34       5,741.09-3.5%
Customers’ Deposits       4,635.51       4,582.371.2%
Shareholders’ Equity          513.65          505.251.66%

Leave a Reply

Your email address will not be published. Required fields are marked *