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Bank of Beirut First-Half Profit Rises as Lending Increases

July 23 (Bloomberg) -- Bank of Beirut SAL, a publicly traded Lebanese lender, said first-half profit rose 65 percent to about 72.4 billion Lebanese pounds ($48 million) from 43.8 billion pounds a year earlier, as loans increased.

Lending grew 37 percent to 3 trillion pounds in the first six months of the year from 2.1 trillion pounds, the bank said today in a filing, according to an e-mailed statement from the Beirut Stock Exchange.

Total assets grew 14.6 percent to 10.7 trillion pounds.

To contact the reporter on this story: Massoud A. Derhally in Amman, Jordan at mderhally@bloomberg.net

To contact the editors responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net.

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