Cash And Trade Magazine For Cash and Trade professionals in the Middle East
Bank of Beirut’s net profit for the first quarter of 2011 rose by 1.38 per cent to $20m as compared to the first quarter of 2010, although assets and customer deposits jumped by 26.86 per cent and 36.11 per cent respectively.
Roger Dagher, chief financial officer of Bank of Beirut, said the remarkable growth of assets during the period was attributed to internal expansion and the acquisition of the Australian Subsidiary Laiki Bank (Australia) Ltd. that was completed in March 2011.
