Bank of Beirut’s Profits Rise by a Yearly 6.42% in 2016
As per Bank of Beirut’s (BOB) consolidated income statement, BOB’s net income climbed by 6.42% year on year (y-o-y) to $198.62M in December 2016. The higher profit is mainly attributed to the 10.83% increase in Net interest income, which stood at $253.52M compared to $228.74M in December 2015. Net fees & Commission Income also rose by 2.21% to $80.98M.
On BOB’s balance sheet, total assets recorded a 6.55% year-on-year (y-o-y) uptick to stand at $17.21B, as of December 31, 2016. Particularly, Net Loans and Advances to customers rose by12.24% to $4.7B.
As for the liabilities, Customers’ Deposits registered a 2.93% y-o-y growth to $12.31B, while Shareholders’ Equity increased by 15.99% to stand at $2.31B by Dec. 2016.
Bank of Beirut Bank Financial Highlights ($B)
| Dec-16 | Dec-15 | % change | |||||
| Net Profits ($M) | 198.62 | 186.63 | + 6.42% | ||||
| Total Assets | 17.21 | 16.15 | + 6.55% | ||||
| Customers’ Deposits | 12.31 | 11.96 | + 2.93% | ||||
| Shareholders’ Equity | 2.31 | 1.99 | + 15.99% | ||||
| Net Loans and Advances to Customers | 4.7 | 4.19 | +12.24% | ||||
Source: Beirut Stock Exchange (BSE)
