Bank BEMO’s Net Profit Up by a yearly 10% to $9M in H1 2019

According to Bank BEMO’s unaudited consolidated financial statements, the bank’s profit for H1 2019 increased by a yearly 10% to reach $9.00M. The rise in profits is largely attributed to the yearly 22.8% uptick in Net interest income to $20.9M by June 2019 and the 5.02% yearly uptick recorded in the bank’s Net fees & Commission Income to reach $2.6M.

On the bank’s balance sheet, Total assets recorded a marginal 0.76% growth since year-start to reach $2.04B, with Loans and advances to customers retreating by 6.82% year-to-date (YTD) to $676.7M. Meanwhile, Customers’ deposits slipped by 5.45% since year start to settle at $1.2B in H1 2019. As for the total Shareholders’ equity, it climbed by 2.82% YTD to $195.3M by June 2019.

 

Bank BEMO Financials: H1 2019

in $M 30-Jun-19 31-Dec-18 Y-o-Y
Total Assets                                   2,039                               2,024 0.76%
Net Loans and advances to customers at amortized cost                                       677                                  726 -6.82%
Customer’s Deposits at amortized cost                                   1,203                               1,272 -5.45%
Total Equity                                   195.3                               189.9 2.82%
Profit for the period*                                        9.0                                   8.2 10.00%
*end June 2018

 

Source: BSE, Bank BEMO

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