BEMO Bank’s Net Income Witnessed an 8.47% Yearly Decline
According to BEMO Bank’s income statement, the bank’s consolidated net income reached $7.30M in June 2016, 8.41% lower than the same period last year. This came about following the 0.8% slip in net operating income to $21.12M and the 1.4% rise in total expenses to $12.79M. Still, Net interest income and net fees and commission income increased 8.64% and 7.51%, yearly, to $13.18M and $2.59M, respectively.
On the balance sheet, total assets grew 2.36% year-to-date (y-t-d) to $1.66B, as of June 30, 2016.
Loans and Advances to customers also increased by 6% to reach $714.61M
Customers’ deposits fell 0.92% y-t-d to $1.28B in H1.
As for shareholders’ equity, it grew 1.09% to $136.05 by June 2016.
BEMO Bank Financial Highlights ($M)
| Jun-16 | Dec-15 | % change | |||||
| Net Profits | 7.30 | 7.97* | -8.41% | ||||
| Total Assets | 1659.40 | 1621.08 | 2.36% | ||||
| Customers’ Deposits | 1281.60 | 1293.50 | -0.92% | ||||
| Shareholders’ Equity | 136.05 | 134.58 | 1.09% | ||||
| Loans and Advances to customers | 714.61 | 674.14 | 6.00% | ||||
* Value of June 2015
