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