BLC’s Net Profit for 2018 Contracted to Stand at $41M

BLC Bank Financial Highlights in 2018

(in $M) Dec-18 Dec-17 Y-o-Y
Total Assets                5,895.37                  5,867.19 0.48%
Loans and Advances to Customers                1,607.47                  1,600.56 0.43%
Customers’ Accounts at Amortized Cost                3,908.05                  3,919.21 -0.28%
Shareholders’ Equity                    585.23                      561.48 4.23%
Net Profit for the Period                      41.00                        46.49 -11.80%


According to BLC Bank’s unaudited consolidated financial statements, the bank’s Net profit contracted from $46.49M in 2017 to $41M in 2018. In fact, “Net interest income” fell from $100.25M in 2017 to end 2018 at $88.52M. Meanwhile, BLC’s “Net fee & commission income” added a yearly 2.46% to reach $18.20M.

In turn, BLC’s Total assets ticked upward by a marginal 0.48% year-on-year (y-o-y) to reach $5.89B by December 2018. The uptick can be partly attributed to the “Loans to customers at amortized costs” which rose by 0.43% y-o-y to end 2018 at $1.61B and partly to “Cash reserves and deposits with the central bank” which grew from $911.12M in 2017 to $1.14B in 2018.

On the liabilities side, “Customers’ deposits” lost 0.28% y-o-y to settle at $3.91B in 2018, while total Shareholders’ equity added an annual 4.23% to reach $585.23M over the same period.

Source:  BLC Bank, BSE



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