Credit Libanais’ Net Profit Rose by 19% to $53.75M by September
According to Credit Libanais’ Income Statement, the bank’s net profit posted a 19% year-on-year upturn to $53.75M by September. The higher profit came about as net interest income grew by a yearly 11% to $111.16M despite a 2% yearly decrease in net fees and commissions income to $27.56M.
The bank’s balance sheet revealed a 6% year-to-date growth in total assets to $9.75B with Net Loans and advances to customers increasing by 5% year-to-date to $2.97B.
On the liabilities side, deposits from customers and related parties as well as total equity advanced by 7% and 3% since year-start to $8.28B and $819M by September.
Credit Libanais – September 2015 Financial Highlights
| In millions of USD | Sep-15 | Dec-14 | YTD |
| Total Assets | 9,751 | 9,162 | 6% |
| Net Loans and Advances to Customers | 2,974 | 2,832 | 5% |
| Customer Deposits | 8,275 | 7,739 | 7% |
| Total Equity | 819.00 | 794.04 | 3% |
| Net Profit for the Year | 53.75 | 45.15 (*) | 19% |
Source: Credit Libanais
(*): Value of September 2014
