BEMO Bank published its unaudited 2014 financial results revealing a yearly increase in its net profits by 74.9% to $11.17M. The progress resulted of gains in the net financial revenues that surged by 18.4% y-o-y to $39.05M. Total expenses followed the same path, yet at a slower pace, revealing a 15.5% growth to $25.26M. By the end of 2014, BEMO’s total assets stood at $1.48B, a minor 0.6% annual downtick. Net loans and advances to clients managed to show a 5.5% growth to $642.58M, while customers’ deposits barely added 0.7% y-o-y to $1.17B. Total shareholders’ equity registered a 9.1% yearly drop to $126.74M compared to $139.50M registered in 2013.
BEMO 2014 Financial Highlights (In $M)
Net Loans & Advances to Customers
Source: Company Data