BEMO Bank profits up 53 percent

BEMO Bank posted a 53 percent grow year-on-year in net profits before income tax, to $8.3 million in 2013.

Its total assets remains stable year-on-year, reaching $1.5 billion. Total customers accounts were slightly down to $1.17 billion. Loans to customers were almost stable at around $615 million.

Bemo bank has heavily increased its provisions during the last three years, to offset the negative effect of the Syrian crisis on its large operations there.

Bemo's network comprises nine local branches in addition to foreign ones