Credit Libanais reports 5.1 percent increase in profits

Credit Libanais announced net profits of $35.6 million for the first half for 2012, up 5.1 percent from the $33.8 million in the same period of 2011. Net interest income amounted to $63.3 million, rising by 2 percent from $62 million recorded in the same period of 2011. Net fees and commissions income increased from $13.3 million to $17.1 million respectively. Net operating income edged up 9.6 percent to attain $90.2 million, compared with $82.3 million in the first half of 2011. Assets totaled $7.5 billion at the end of June 2012, up by 4.2 percent from $7.2 billion at the end of 2011. Net loans and advances for the first six months of 2012 stood at $2.1 billion, 7.8 percent higher than the $2 billion for 2011. Customer deposits amounted to $6.5 billion, up by 3.9 percent from $6.3 billion at end-2011. Shareholders’ equity totaled $511.5 million for the first half of 2012, up by 4.7 percent from $488.7 million at end-2011. From DailyStar