Credit Libanais’ net profits up 7 %

Credit Libanais’ consolidated net profits amounted to $18.3 million in the first quarter of 2012, up by 7 percent from $17.1 million in the same period last year. Net interest income rose by 6.3 percent annually from $29.6 million in the first quarter of 2011 to $31.4 million in the same period this year, while net fees and commission income went up by 12.3 percent year-on-year to attain $8 million in the aforementioned period of 2012. Subsequently, total operating income amounted to $44.5 million in the first quarter of 2012, up by 6.5 percent from $41.8 million in the first quarter of 2011. Total operating expenses increased by 9.3 percent annually from $21.7 million in the first three months of 2011 to $23.7 million in the first three months of 2012.from daily star.