Bank BEMO’s Net Profit Up by an Annual 3.61% to $8.2M in H1 2018

According to Bank BEMO’s unaudited consolidated financial statements, the bank’s profit for 2018’s first half (H1) totaled $8.18M compared to $7.89M in the same period last year.

The boost in the bank’s profits was most likely triggered by the rise in Net interest income from $12.18M in H1 2017 to $17.08M in H1 this year. In turn, Net fees & Commission Income also rose by an annual 3.7% to $2.5M thereby supporting Bank BEMO’s profits for the period.

Total assets of the bank grew by 15.24% since year-start to $2.04B, with Loans and advances to customers at amortized costs also recording an uptick of 0.69% year-to-date (y-t-d) to $767.1M.

As for the total Shareholders’ equity, it decreased by 4.03% y-t-d to $167.3M. Meanwhile, Customers’ deposits at amortized costs slipped by 0.46% since year start to settle at $1.32B in H1 2018.

 

 Bank BEMO Financials: H1 2018 
In $Dec-17Jun-18YTD
Total Assets                    1,768,782,959                    2,038,393,55915.24%
Loans and Advances to Customers at Amortized Cost                        761,882,898                        767,152,9350.69%
Customers’ Deposits at Amortized Cost                    1,322,115,059                    1,315,970,384-0.46%
Shareholders’ Equity                        174,360,194                        167,334,122-4.03%
Profit for the Period                             7,898,407*                             8,183,8023.61%

 

*Value of June 2017

Leave a Reply

Your email address will not be published.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