BEIRUT

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Fransabank net profits up by 15.8 percent

BEIRUT: Fransabank’s consolidated net profits reached $80.3 million in the first half of 2011, up by 15.8 percent from $69.3 million in the first half of 2010.

Interest margin increased by 24.7 percent, from $121.1 million in the first half of 2010 to $151 million in the first half of 2011, while non-interest income rose by 25.3 percent over the covered period, from $49 million in the first half of 2010 to $61.4 million in the first half of 2011.

Operating income increased by a yearly 24.9 percent to reach $212.4 million in the first half of 2011.

Total assets reached $13.6 billion at end-June 2011, up by 10.8 percent from $12.3 billion at year-end 2010. Loans to customers reached $4 billion at end-June 2011, up by 28.8 percent from $3.1 billion at year-end 2010.

Customer deposits amounted to $11.3 billion at end-June 2011, up by 11.6 percent from $10.1 billion at year-end 2010.

Shareholders’ equity amounted to $1.2 billion at end-June 2011, against $1.3 billion at year-end 2010.

 
A version of this article appeared in the print edition of The Daily Star on September 02, 2011, on page 4.
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