MBEIRUT: First National Bank SAL posted 2013 first-half net profits of $13.8 million, up from $8.9 million in the same period of 2012.
Net interest income declined by 1.3 percent over the same period to reach the equivalent of $26.6 million.
First National Bank’s net fee and commission income was lower by 21.2 percent year-on-year and attained $2.1 million in the first half of 2013.
Net operating income jumped from $31.4 million in the first half of 2012 to $37.2 million in the same period of 2013 with net provisions for credit losses registering a decline of 82.3 percent year-on-year to reach $516,000.
First National Bank’s total assets stood at $3.5 billion at end-June 2013, up by 2.8 percent from end-2012. Customer deposits moved from $2.7 billion at end-2012 to $2.8 billion at end-June 2013.
Shareholders’ equity was higher by 5.4 percent, reaching $244.7 million at end-June 2013.