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