BEMO Bank Profits Almost Doubled in 2014 at $11.17M
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)
| Dec-13 | Dec-14 | ||
|
Customer’s Deposits |
1,169.97 |
1,178.17 | 0.7% |
|
Net Loans & Advances to Customers |
609.20 |
642.58 |
5.5% |
|
Total Assets |
1,484.63 |
1,476.06 |
-0.6% |
| Net Profit |
6.39 |
11.17 | 74.9% |
|
Shareholders’ Equity |
139.50 | 126.74 |
-9.1% |
Source: Company Data
