BEIRUT: Banque BEMO sal announced 2012 net profits of $5.3 million, down by 19.4 percent from $6.6 million in 2011. Net interest income amounted to $15.7 million in 2012, up by 42.3 percent.

Net fees and commission income decreased from $5 million in 2011 to $4.3 million in 2012. Net financial revenues after impairment charge for credit losses reached $29.3 million in 2012, up by 18.9 percent.

Total expenses rose by 8.1 percent year-on-year to $21.2 million in 2012, of which staff costs reached $12.4 million, 14.5 percent higher than those reported in 2011.

Administrative expenses reached $7.3 million, 5.9 percent higher than those in 2011. Banque BEMO’s assets totaled $1.5 billion at end-2012, down by 2.2 percent from end-2011.

Net loans and advances stood at $612.1 million at end-2012, higher than the total of $549.9 million at end-2011. Customers’ deposits amounted to $1.3 billion at end-2012, against $1.1 billion at end-2011.