Bank of Beirut’s Net Income Lost 16% y-o-y to $65.9M in H1 2019

According to the consolidated statements of Bank of Beirut (BOB), the bank’s net profits slid by an annual 16.06% to $65.9M in H1 2019. In fact, the decline came on the back of a yearly down tick registered in Net interest income which lost 20.7%YOY to $117.02M. Meanwhile, Net commission income added a marginal 1.14% year-on-year (y-o-y) to $52.04M by June 2019.

On the balance sheet, the bank’s Total assets retreated by 1.6% to $17.4B in H1 2019 , noting that Net Loans and Advances to Customers declined by a yearly 10.61% to reach $5.07B in H1 2019. On the liabilities’ side, Customers’ deposits and credit balances fell by 4% y-o-y to stand at $12.59B. In its turn, Total shareholders’ equity slid by a yearly 1.27% to $1.76B.

 

Financial Highlights of Bank of Beirut in H1 2019

(In Millions of USD ) 30-Jun-19 30-Dec-18 YTD
Total Assets                  17,447                  17,730 -1.60%
Net Loans and Advances to Customers at Amortized Cost                     5,073                     5,675 -10.61%
Customers’ Deposits and Credit Balances at Amortized Cost                  12,586                  13,109 -3.99%
Total Shareholders’ Equity                     1,761                     1,784 -1.27%
Net Income*                     65.89                     78.50 -16.06%
*end june 2018

Source: BSE, BOB

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