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