BLC’s Net Profit Up by a Yearly 14% to $10.52M till March 2017

According to the consolidated financial statements of BLC Bank, the bank’s net profit for the first three months of the year totaled $10.52M up by 14% year-on-year.

According the banks’ accompanying highlights, “recurrent income from the operations in Lebanon, which is constituted mainly of net interest and net commissions, reached $13.1M till March 2017, up by +6.2% from the $12.33M registered till March 2016”.

The bank’s total assets slid by 0.38% from $5.74B as at December 31, 2016 to $5.72B during the first quarter of 2017 (Q1 2017).

Loans and advances to customers increased by 1.07% since year start to amount to $1.87B as at March 31, 2017.

Consolidated total deposits decreased by 1.2% year-to-date to settle at $4.63B as at March 31, 2017.

According to BLC’s statement “Consolidated Capital Adequacy ratio stands at 16.3%, compared to a 14% required by the Central Bank.”

BLC Bank’s Financial Highlights

In $ million Dec-16 Mar-17 YTD
Total Assets                              5,744.64                             5,723.08 -0.38%
Loans and Advances to Customers                              1,845.72                             1,865.51 1.07%
Customers’ Accounts at Amortized Cost                              4,690.50                             4,632.43 -1.24%
Shareholders’ Equity                                 577.91                                 588.45 1.82%
Net Profit for the Period                                      9.24 (*)                                   10.52 13.86%

(*): Value of March 2016

Source: BLC Bank, Beirut Stock Exchange

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