Bank of Beirut Net Income Up by 14.77% by Q1 2017
As per its latest unaudited financial statements, Bank of Beirut (BoB) recognized a yearly 14.77% rise in its net income by Q1 2017 to stand at $50.24M. BoB saw its net interest income improve by 17.03% over the year to $68.71M. Likewise, the bank’s net fees and commissions rose by 8.77% to $20.66M.
The banks’ balance sheet showed that assets dropped by a 1.68% year-to-date to $16.92B start and that customer loans increased by 1.20% y-t-d to $4.76B. On the liabilities side, customers’ deposits slightly fell from year start by 0.67% to $12.23B while shareholders’ equity increased by 2.18% to $2.36B by March 2017.
Bank of Beirut’s Financial Results ($M)
| In millions of USD | 31-Dec-16 | 31-Mar-17 | YTD |
| Total Assets | 17,207 | 16,917 | -1.68% |
| Net loans and Advances to Customers at Amortized Cost | 4,701 | 4,757 | 1.20% |
| Customers’ Deposits at Amortized Cost | 12,312 | 12,229 | -0.67% |
| Total Shareholders’ Equity | 2,309 | 2,359 | 2.18% |
| Profit for the Year* | 43.78 | 50.24 | 14.77% |
Source: BoB financials
