BEIRUT: BankMed announced Monday that net profits for 2012 totaled $126.7 million, up by 7.9 percent from $117.5 million in 2011. Net interest income amounted to $210.4 million in 2012, dropping by 2.9 percent from 2011.
Net fees and commission income increased from $43.3 million in 2011 to $52.7 million in 2012. Net operating revenues edged up by 13.5 percent to reach $414 million in 2012, according to Bank Audi Weekly Bulletin.
Total operating expenses rose by 23.9 percent year-on-year to $257.9 million in 2012, of which staff costs reached $125.9 million, 23.1 percent higher than those reported in 2011. Other general operating expenses reached $119.5 million, 25.6 percent higher than those during 2011.
Net financial revenues from operations amounted to $140.9 million in 2012, up by 3.9 percent from 2011.
BankMed’s assets totaled $12.5 billion at end-2012, up by 6.1 percent from a total of $11.8 billion at end- 2011. Net loans and advances stood at $4.3 billion at end-2012, 4.2 percent higher than the total of $4.2 billion at end-2011.
Customers’ deposits amounted to $99 billion at end-2012, up by 4 percent from $9.5 billion at end-2011.