Bank of Beirut Increased Capital by Share Issuance
During the extraordinary general assembly held on March 21st, 2016, Bank of Beirut (BoB) shareholders agreed upon the decision to raise the bank’s capital from LBP 105.41B ($69.24 M) to LBP 109.38B ($ 72.56 M) via the issuance of 2,717,500 nominal common shares, worth LBP 1,460 per share.
Accordingly, 34% of these shares were listed on the Beirut Stock Exchange (BSE) on July 13th, 2016, while the remaining shares will be not be listed. Resultantly, the number of listed and non-listed common shares became 17.75M and 35.48M, respectively.
Bank of Beirut Financial Results ($B)
| Mar-16 | Dec-15 | % change | |
| Net Profits | 43.78 | 40.55* | 7.96% |
| Total Assets | 15,996 | 14,415 | 10.97% |
| Customers’ Deposits | 11,848 | 10,687 | 11.32% |
| Shareholders’ Equity | 2,079 | 1,882 | 10.46% |
Source: BoB Financials
