BEMO Bank’s Financials Reveal a 21.77% y-o-y Rise in 2016’s Profits
BEMO Bank recorded a notable growth of 21.77% in its consolidated net income to $15.75M in December 2016, when compared to the same period last year. The boost in profits was triggered by the 5.85% and 7.58% increases in Net interest income and Net fees & Commission Income to $24.89M and $5.55M, respectively.
On the balance sheet, total assets witnessed a growth of 8.5% year-on-year (y-o-y) to settle at $1.76B, as of December 31, 2016. In details, Net Loans and Advances to customers increased by 2.26% to reach $689.38M.
On the liabilities side, Customers’ Deposits climbed by 6.99% y-o-y to $1.38B in December 2016. As for the Shareholders’ Equity, it grew by 7.19% to $144.26M by Dec. 2016.
BEMO Bank Financial Highlights ($B)
| Dec-16 | Dec-15 | % change | |||||
| Net Profits ($M) | 15.75 | 12.94 | + 21.77% | ||||
| Total Assets | 1.76 | 1.62 | + 8.5% | ||||
| Customers’ Deposits | 1.38 | 1.3 | + 6.99% | ||||
| Shareholders’ Equity | 0.144 | 0.134 | + 7.19% | ||||
| Net Loans and Advances to Customers | 0.689 | 0.674 | +2.26% | ||||
Source: Beirut Stock Exchange (BSE)
