BEMO Bank’s Financials Reveal a 21.77% y-o-y Rise in 2016’s Profits

BEMO Bank recorded a notable growth of 21.77% in its consolidated net income to $15.75M in December 2016, when compared to the same period last year. The boost in profits was triggered by the 5.85% and 7.58% increases in Net interest income and Net fees & Commission Income to $24.89M and $5.55M, respectively.

On the balance sheet, total assets witnessed a growth of 8.5% year-on-year (y-o-y) to settle at $1.76B, as of December 31, 2016. In details, Net Loans and Advances to customers increased by 2.26% to reach $689.38M.

On the liabilities side, Customers’ Deposits climbed by 6.99% y-o-y to $1.38B in December 2016. As for the Shareholders’ Equity, it grew by 7.19% to $144.26M by Dec. 2016.

BEMO Bank Financial Highlights ($B)

Dec-16Dec-15% change
Net Profits ($M)15.7512.94+ 21.77%
Total Assets1.761.62+ 8.5%
Customers’ Deposits1.381.3+ 6.99%
Shareholders’ Equity0.1440.134+ 7.19%
Net Loans and Advances to Customers0.689   0.674         +2.26%

Source: Beirut Stock Exchange (BSE)

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