Arab Today, arab today bank of beirut profits up by 854 percent
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Arab Today, arab today
Arab Today, arab today

Bank of Beirut profits up by 8.54 percent

Arab Today, arab today

Arab Today, arab today Bank of Beirut profits up by 8.54 percent

Beirut - Arabstoday

Bank of Beirut reported an 8.54 percent year-on-year increase in net profits at the end of the first quarter of 2012. The bank’s unaudited financial statements showed that profits reached $21.89 million, up from $20.16 million during the same period last year. The bank’s net interest income was up by 29.47 percent to $35.09 million. Net commission income increased to $18.51 million and net operating income firmed at $62.67 million. On the balance sheet front, Bank of Beirut’s total assets expanded by 5.22 percent annually to around $9.56 billion, up from $9.09 billion in the first quarter of 2011. Customer deposits came in 9.85 percent higher at $7.42 billion, with net loans and advances surpassing the $3.30 billion mark.

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