BankMed records 8% net profit growth

BankMed reported an 8 percent growth in its consolidated net profits for the first half of 2012, totaling $64.2 million compared with the $59.6 million in the same period last year. Net interest income rose by 15 percent to $117.3 million from $102 million in the first half of 2011, while net fees and commission income went down by 7 percent year-on-year from $25.9 million to $24.3 million in the first half of 2012. Net operation revenue was $253.1 million in the first half of 2012, up by 24 percent from $204 million in the first half of 2011. Total operating expenses went up 23 percent from $103.2 million in the first six months of 2011 to $126.8 million in the same period of 2012. Year over Year, total assets were up 15 percent to $13.2 billion in the first half of 2012, total loans grew 18 percent to $4.6 billion and total deposits reached $10.6 billion up by 17 percent compared to the first half of 2011. BankMed had reported net profits of $29.1 million in the first quarter of 2012, up by 13.9 percent from $25.5 million in 2011. (daily star)