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BBAC posts profit rise of almost 41 percent.



Byline For the use of the term in football (soccer), see Byline (soccer).

The byline on a newspaper or magazine article gives the name, and often the position, of the writer of the article.
: Daily Star Staff

Summary: Bank of Beirut Beirut (bārt`), Arab. Bayrut, Fr. Beyrouth, city (1996 est. pop. 1,200,000), W Lebanon, capital of Lebanon, on the Mediterranean Sea, at the foot of the Lebanon Mts.  and the Arab Countries (BBAC BBAC British Balloon and Airship Club
BBAC Bank of Beirut and the Arab Countries
BBAC Back Bay Architectural Commission (Boston, Massachusetts)
BBAC Bed and Breakfast Association of Calgary
BBAC Battalion Budget Advisory Committee
) posted net profits of $14.9 million in the first half of 2008, up by 40.8 percent from $10.6 million in the first half of 2007. Net interest margin decreased by 4.4 percent to $ 22.6 million, while non-interest income rose from $5.2 million to $ 12.9 million year-on-year.

BEIRUT: Bank of Beirut and the Arab Countries (BBAC) posted net profits of $14.9 million in the first half of 2008, up by 40.8 percent from $10.6 million in the first half of 2007. Net interest margin decreased by 4.4 percent to $ 22.6 million, while non-interest income rose from $5.2 million to $ 12.9 million year-on-year. Subsequently, net financial income increased by 22.7 percent to $35.4 million over the same period. General operating expenses Operating expenses

The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted.
 increased by 12.6 percent to $17.8 million, due to a decrease of 0.5 percent in staff expenses and a rise of 33.6 in other operating expenses. The bank's cost to-income ratio stood at 52.5 percent in the first half of 2008. Total assets reached $3.0 billion at end-June 2008, up by 3.2 percent year-to-June. Customer deposits totaled $2.6 billion, up by 5.1 percent from $2.5 billion at year-end year-end also year·end
n.
The end of a year.

adj.
Occurring or done at the end of the year: a year-end audit.

Noun 1.
 2007. Loans reached $581.8 million at end-June 2008, up by 17.7 percent from $494.2 million at year-end 2007. - The Daily Star

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Publication:The Daily Star (Beirut, Lebanon)
Article Type:Financial report
Date:Sep 26, 2008
Words:266
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