BEMO Bank’s Profits in Q4 2017 Climbed to $18.4M  

The consolidated financial statements of BEMO Bank showed an increase of 16.71% year-on-year (y-o-y) in Profits to $18.4M in Q4 2017. In fact, Net interest and other gain on the Fair Value through Profit and Loss (FVTPL) portfolio retreated from $8.4M in Q4 2016 to $5.5M in the same period of 2017.  

However, Net interest income went up by 11.85% y-o-y to $27.83M and Net fees and commission income rose by 2.73% y-o-y to $5.7M during the same period.

The bank’s balance sheet revealed that Total assets rose incrementally by 0.63% y-o-y, to settle at $1.77B by December 2017, and that Customer loans increased by an annual 10.72%, to $762.3M. On the liabilities side, Customers’ deposits dropped by a yearly 3.85% to stand at $1.33B, while Shareholders’ equity increased by 8% y-o-y to $173.7M.

BEMO Bank’s Financial Highlights in Q4 2017

in thousands of USD 31-Dec-17 31-Dec-16 Y-o-Y
Total Assets            1,769,357            1,758,242 0.63%
Net Loans and advances to customers at amortized cost                762,302                688,509 10.72%
Customers’ Deposits at amortized cost            1,325,473            1,378,569 -3.85%
Total Equity                173,698                160,833 8.00%
Profit for the period                  18,383                  15,751 16.71%

Source: Beirut Stock Exchange

Leave a Reply

Your email address will not be published. Required fields are marked *