According to Bank BEMO’s unaudited consolidated financial statements, the bank’s profit for 2018 totaled $18.89M compared to $18.43M last year. In fact, the Net interest income grew by 26.85% to $35.21M by December 2018. In turn, Net fees & Commission Income also rose by an annual 4.82% to $5.98M.
Total assets of the bank grew by 14.51% in 2018 to $2.03B. However, net Loans and advances to customers at amortized costs recorded a downtick of 4.68% in 2018 to $726.24M.
Moreover, on the Liabilities side, Customers’ deposits at amortized costs slipped by 6.03% in 2018 to settle at $1.24B. As for the Shareholders’ equity, it increased by a yearly 8.31% to $188.85M.
Bank BEMO Financials: Q4 2018
| In Millions $ | Dec-18 | Dec-17 |
| Total Assets | 2025.39 | 1,768.78 |
| Net Loans and Advances to Customers at Amortized Cost | 726.24 | 761.88 |
| Customers’ Deposits at Amortized Cost | 1242.43 | 1322.12 |
| shareholder’s equity | 188.85 | 174.36 |
| Profit for the period | 18.89 | 18.43 |
Source: BEMO Bank, Beirut Stock Exchange