BEMO Bank’s Net Income Witnessed an 8.47% Yearly Decline

According to BEMO Bank’s income statement, the bank’s consolidated net income reached $7.30M in June 2016, 8.41% lower than the same period last year. This came about following the 0.8% slip in net operating income to $21.12M and the 1.4% rise in total expenses to $12.79M. Still, Net interest income and net fees and commission income increased 8.64% and 7.51%, yearly, to $13.18M and $2.59M, respectively.

On the balance sheet, total assets grew 2.36% year-to-date (y-t-d) to $1.66B, as of June 30, 2016.

Loans and Advances to customers also increased by 6% to reach $714.61M

Customers’ deposits fell 0.92% y-t-d to $1.28B in H1.

As for shareholders’ equity, it grew 1.09% to $136.05 by June 2016.

BEMO Bank Financial Highlights ($M)

 Jun-16Dec-15% change
Net Profits7.307.97*-8.41%
Total Assets1659.401621.082.36%
Customers’ Deposits1281.601293.50-0.92%
Shareholders’ Equity136.05134.581.09%
Loans and Advances to customers714.61 674.14         6.00% 

* Value of June 2015


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