Bank of Beirut Reveals a Rise in Net Profits to $123.19M in September
Bank of Beirut’s (BoB) net profits added 15.30% year-on-year (y-o-y) to $123.19M, in September 2014. This was driven by the 16.43% and 3.93% upsurge in net interest income and net fees and commission income to $123.19M and $166.74M, which outweighed the 11.10% rise in net operating expense that stood at $50.14M.
BoB’s balance sheet unveiled a 17.40% y-o-y growth in total assets to $13.94B, by September 2014, triggered by the 13.96% expansion in loans and advances to customers, to $3.89B.
On the liabilities side, customers’ deposits broadened by 14.36%, compared to the same period last year, to $10.28B.
Concomitantly, total equity rose by 15.44% to $1.76B by end of the third quarter of 2014.
BoB Financial Highlights
| Sep-14 | Sep-13 | %change | |
| Total Assets | 13.94 | 11.87 | 17.40% |
| Loans and Advances to Customers | 3.89 | 3.41 | 13.96% |
| Customers’ Deposits | 10.28 | 8.99 | 14.36% |
| Shareholders’ Equity | 1.76 | 1.52 | 15.44% |
| Profit/Loss (in $M) | 123.19 | 106.84 | 15.30% |
