BankMed announces profit for H1 2011

Net profit increases by 13 percent, assets at $11 billion

July 28, 2011- BankMed’s net profit at the first half of 2011 grew by 13 percent to reach $59.4 million compared to $52.6 million for the same period a year earlier.

The bank said all income items recorded significant growth, with net interest income, fees and commissions, and other operating income up by 23 percent, 36 percent, and 16 percent respectively. Net financial revenues jumped by 28 percent to $205 million, and the total operating expenses increased by eight percent to reach $103 million.

Loans were up by around 20 percent to $3.9 billion. Customer deposits rose by seven percent during the year to reach nine billion dollars by June 2011.

The bank’s total assets stood at $11.4 billion.