As per its latest unaudited financial statements, Bank of Beirut (BoB) recognized a yearly 14.77% rise in its net income by Q1 2017 to stand at $50.24M. BoB saw its net interest income improve by 17.03% over the year to $68.71M. Likewise, the bank’s net fees and commissions rose by 8.77% to $20.66M.
The banks’ balance sheet showed that assets dropped by a 1.68% year-to-date to $16.92B start and that customer loans increased by 1.20% y-t-d to $4.76B. On the liabilities side, customers’ deposits slightly fell from year start by 0.67% to $12.23B while shareholders’ equity increased by 2.18% to $2.36B by March 2017.
Bank of Beirut’s Financial Results ($M)
|In millions of USD||31-Dec-16||31-Mar-17||YTD|
|Total Assets|| 17,207|| 16,917||-1.68%|
|Net loans and Advances to Customers at Amortized Cost|| 4,701|| 4,757||1.20%|
|Customers’ Deposits at Amortized Cost|| 12,312|| 12,229||-0.67%|
|Total Shareholders’ Equity|| 2,309|| 2,359||2.18%|
|Profit for the Year*||43.78||50.24||14.77%|
Source: BoB financials