Bank of Beirut’s Profits Rise by a Yearly 6.42% in 2016

As per Bank of Beirut’s (BOB) consolidated income statement, BOB’s net income climbed by 6.42% year on year (y-o-y) to $198.62M in December 2016. The higher profit is mainly attributed to the 10.83% increase in Net interest income, which stood at $253.52M compared to $228.74M in December 2015. Net fees & Commission Income also rose by 2.21% to $80.98M.

On BOB’s balance sheet, total assets recorded a 6.55% year-on-year (y-o-y) uptick to stand at $17.21B, as of December 31, 2016. Particularly, Net Loans and Advances to customers rose by12.24% to $4.7B.

As for the liabilities, Customers’ Deposits registered a 2.93% y-o-y growth to $12.31B, while Shareholders’ Equity increased by 15.99% to stand at $2.31B by Dec. 2016.

Bank of Beirut Bank Financial Highlights ($B)

 Dec-16Dec-15% change
Net Profits ($M)198.62186.63+ 6.42%
Total Assets17.2116.15+ 6.55%
Customers’ Deposits12.3111.96+ 2.93%
Shareholders’ Equity2.311.99+ 15.99%
Net Loans and Advances to Customers4.7    4.19        +12.24% 

Source: Beirut Stock Exchange (BSE)

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