Banque BEMO the leading provider of private & Corporate Banking, Lebanon, Middle East

Oct 5, 2007: A Financial Market Presentation by specialists from Oddo et Cie – Paris took place on the 5th of October, 2007.

On October 5th, 2007 Banque Bemo sal had the pleasure to host Oddo et Cie, the first independent financial French company represented by Mr. Jean Philippe Tasle D’Heliand, Member of the Executive Board, Mr. Bertrand Levavasseur, Director International Business Development and Mr. Christian Thonier, Asset Allocation and Multi-Management Analyst Fund Manager for a presentation regarding Investment Strategies and the latest developments in the Financial Markets. .

Mr. Samih Saadeh, General Manager of Banque Bemo sal gave a briefing on the group structure and Banque Bemo’s Private Banking Vision and Strategy highlighting the diversified products offered by the bank and its quality services.

The presentation focused on Investment Strategies and Asset Allocation for 2007, under the current international situation of the market.

Mr. Tasle D’Heliand introduced Oddo Asset Management whilst Mr. Levavasseur and Mr. Thonier focused mainly on Strategy and tackled questions such as:

Nov 9, 2006: The Incorporation of a new Joint Venture between Banque Bemo sal and Oddo et Cie took place on November 10, 2006

In November 2006, Bemo Group and Oddo et Cie incorporated a joint venture called BEMO ODDO INVESTMENT FIRM LTD – DUBAI.

The joint venture will be operating under the laws of the local regulatory authority, Dubai International Financial Center (DIFC) and will be equally owned by the two groups:

Sep 1, 2006: Banque Bemo declares net income of US$ 5.3 million in first half of 2006

Banque Bemo SAL declared consolidated net income of US$ 5.3 million in the first half of 2006, up from US$ 2.1 million in the corresponding period of 2005. Net interest income increased by 25.8% to US$ 4.7 million while net commission earnings decreased by 2.0% to US$ 1.8 million.

Net profits on financial operations increased by 40.1% to US$ 3.1 million, while general operating expenses increased by 21.6% to US$ 6.3 million, due to 13.9% increase in staff expenses and a 33.1% rise in other operating expenses. Total assets reached US$ 716.5 million at end-June 2006, up from US$ 575.1 million at the end of June 2005. Loans to customers increased by 28.2% to US$ 236.0 million. Customer deposits totaled US$ 546.4 million, up by 22.9% from US$ 444.5 million at end-June 2005. Foreign currency deposits accounted for 94.6% of total deposits, compared to 94.3% a year earlier.

May 8, 2006: Press Release on the Financial Performance of Banque BEMO SAL based on the Unaudited and Consolidated Financial Statements as at the 31st of March 2006

Banque Bemo SAL reported an increase in consolidated net income of 25.7% which stood at US$ 1.269 million at the end of March 2006 compared to US$ 1.029 million at the end of March 2005.This improved performance was due to the following:

Total assets stood at US$ 738 million at the end of March 2006 recording an increase of 23.1% compared to the last year period and compared to an increase of 7% in the Lebanese banking sector. Customer deposits were equivalent to US$ 559.4 million at the end of March 2006 recording an increase of 26.2% compared to the last year period and compared to an increase of 10% in the Lebanese banking sector. Customer loans reached US$ 212 million at the end of March 2006 recording an increase of 12.7% compared to the last year period and compared to an increase of 3.5% in the Lebanese banking sector. The bank maintained the high coverage of nonperforming loans by provisions and as a result net nonperforming loans plus all substandard accounts represented only 1.4% of gross loans at the end of March 2006 compared to 4.56% a year earlier and a ratio exceeding 10% for the whole banking sector.

Total capital (tier one and tier two) amounted to US$ 63.7 million at the end of March 2006 and represented 8.6% of total assets. The bank maintained high liquidity ratios where liquid assets represented a high level exceeding 62% of total assets at the end of March 2006.

In addition and in order to enhance its operations, the Bank announced plans to increase its capital by raising US$ 20 million through the issuance this month of 200,000 Preferred Shares expected to constitute Tier One capital. The issue consists of non-cumulative shares with an open-ended maturity subject to a call option by the bank. The issue price was set at US$ 100 per share with a par value of LP 1,000 per share. Holders of preferred shares will receive annual dividends equivalent to 8% of the issue price. Subscription in the capital increase will be held from May 8 to May 15, 2006. The preferred shares are anticipated to be listed on the Beirut Stock Exchange before year-end 2006.

February 3, 2006: Banque Bemo’s profits up by 25% to US$ 4.9 million in 2005

Banque Bemo SAL, declared consolidated net income of US$ 4.9 million in 2005, up by 24.7% from the year 2004. Net interest income received grew by 14.9% to US$ 8.1 million and net commission earnings increased by 6.6% to US$ 3.8 million. As for net profits on financial operations, the latter grew by 39.7% to US$ 4.7 million, while general operating expenses increased by 12.2% to US$ 10.6 million due to an 11.8% rise in staff expenses and to a 12.7% increase in other operating expenditures.
Total assets reached US$ 667.4 million, up by 5.7% from the end of 2004, while loans increased by 15.5% to US$ 196.7 million. Customer deposits totaled US$ 528.4 million an 11.6% rise year-on-year, as the ratio of total loans to deposits was 37.2%, up from 36% a year earlier. Foreign currency deposits accounted for 94.7% of total deposits compared to 92.3% a year earlier.

August 7, 2005: Banque Bemo’s first half 2005 profits up 6.5%

Banque Bemo SAL released this week its balance sheet and income statement for the first six months of 2005 showing a 6.5% rise in net income to US$ 2.14 million, largely attributable to an 11.7% rise in interest income. Similarly, the bank’s total assets increased by 4% to US$ 575 million at the end of June 2005, while customer deposits grew by 3.5% to US$ 444 million (Foreign currency deposits accounted for 94.4% of total deposits) over the same period. Total loans increased by 9.52% to US$ 184 million, bringing the loans-to-deposits ratio up to 41.4% from 39.2% a year earlier. Banque Bemo recently paid out 2004 dividends of LP 175 (US$ 0.12) per share, resulting in a dividend payout ratio of 61%. Banque Bemo’s common shares were last traded at US$ 3.45.

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July 22, 2005: Banque Bemo: Recent Developments & Expansion Projects

(Appeared in L’Orient Le Jour published originally in French)
Loyal to its positioning as a specialized bank in Private and Corporate Banking, Banque Bemo continued during the year to invest in the heart of these two strategic business activities. Pursuing its policy based on an open architecture in terms of personalized services directed to individuals and enterprises, Banque Bemo invested in the development of its Private Banking services mainly spread into 3 new units:

Personal Banking Division: distinct from the Financial Advisory Unit which is mainly specialized in the financial markets investments, however being complementary to it, this division offers its clients the traditional banking services in a personalized fashion and with the support of financial consultants present in all the branches of the Bank. In addition, services such as portfolio and asset management and legal and real estate consultancy are available
The “Mutli Family Office” specialized in the consolidation of the management of the financial portfolio and succession planning
And finally the “Arab Investor Help Desk”, which proposes to its Arab and non-resident investors, a multitude of services destined towards consultancy in investment, management of interests and assets during their absence and facilitation of residence in Lebanon

In other developments, Banque Bemo’s expansion projects in Lebanon related to the branch network include the new opening of its Verdun branch strategically located.
The principal axis of international development of the Bank is mainly the Saudi market where a dedicated team has an objective of developing a private client base.
In addition, the Bank continues to operate through its offshore branches located in Cyprus and the Free Zone in Damascus.
The Bemo group is also active in Europe through la Banque Meridionale de L’Europe- Banque privee in Paris and Luxembourg and also in Syria, through Banque Bemo Saudi Fransi (BBSF), the first private Lebanese Saudi bank to have opened its branches in Damascus, and witnessing a strong growth exceeding all forecasts making it the first private bank in Syria in terms of customer deposits.