19 October 2010
BEIRUT: Bank of Beirut announced consolidated net profits of $76.0 million in the first nine months of 2010, up by 50.7 percent from $50.5 million in the first nine months of 2009. Net interest income stood at $106.5 million in the first nine months of 2010, up from $75.1 million in the first nine months of 2009, while net commission income increased from $28.6 million in the first nine months of 2009 to $38.0 million in the first nine months of 2010. Total operating expenses increased by 17.1 percent to $76.8 million in the first nine months of 2010, of which staff expenses amounted to $39.8 million, up by 23.9 percent year-on-year, and other general operating expenses reached $29.2 million, up by a yearly 24.3 percent. Total assets reached $7.4 billion at end-September 2010, up from $6.4 billion at end-September 2009. Loans to customers increased to $2.1 billion at end-September 2010, up from $1.6 billion at end-September 2009, while customer deposits amounted to $5.4 billion at end-September 2010, up from $4.5 billion at end-September 2009. – The Daily Star
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