RakBank reports net profit of $137.5m for 2020
RAS AL-KHAIMAH, February 3, 2021 The National Bank of Ras Al Khaimah (RakBank) has announced a consolidated net profit of AED505.4 million ($137.5 million) for the full-year of 2020, decreasing by AED589.9 million over the previous year. In a statement on Wednesday, RakBank said, The Bank’s results reflect the impact of the pandemic on our customers and the economy whereby Total Assets stood at AED52.8 billion, decreasing by 7.6 percent over 2019, and Gross Loans and Advances closed at AED32.2 billion, down by 11.2 percent over the previous year,” reported Emirates News Agency. citing a RakBank statement. However, business fundamentals remain strong with Deposits growing by 0.3 percent including the CASA growth of AED5.1 billion (22.3 percent). The Return on Average Assets ratio closed the year at 0.9 percent compared to 2.0 percent for the previous year and Return on Average Equity was 6.5 percent, compared to 14.9 percen
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CHARLES TOWN, W.Va., Feb. 3, 2021 /PRNewswire/ Potomac Bancshares, Inc. (the Company ) (OTC: PTBS), the one bank holding Company for Bank of Charles Town (BCT), for the quarter ended December 31, 2020 earned $1.142 million or $0.28 per share compared to $0.859 million or $0.21 per share for the quarter ended December 31, 2019, an increase of 33.3%. Net income for the year ended December 31, 2020 was $3.785 million or $0.92 per share compared to $3.213 million or $0.78 per share for the same period in 2019, an increase of 17.9%. The resiliency of the BCT team shined as we did not allow historic low interest rates, economic uncertainty or our pandemic response hinder our ability to post record results for 2020, stated Alice P. Frazier, President and CEO. Core loan and deposit growth through new banking relationships, aggressive decreases in deposit rates and expense management all contributed to our 17.9% growth in earnings despite
Northway Financial, Inc Announces 2020 Earnings and Declares Semi-Annual Dividend wallstreet-online.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wallstreet-online.de Daily Mail and Mail on Sunday newspapers.
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FAIRFAX, VA / ACCESSWIRE / January 29, 2021 / The Freedom Bank of Virginia (OTCQX:FDVA), (the Bank or Freedom ) today announced net income of $2,413,775, or $0.33 per diluted share, for the three months ended December 31, 2020. This compares to net income of $2,575,370 or $0.35 per diluted share, for the prior quarter and net income of $747,808 or $0.10 per diluted share for the three months ending December 31, 2019. The Bank reported net income of $7,364,476 or $1.01 per diluted share for the full year 2020 compared to net income of $2,705,217 or $0.37 per diluted share for the full year 2019.
Joseph J. Thomas, President and CEO, commented, I am very proud of my colleagues at Freedom who delivered exceptional outcomes for clients in 2020 during the challenging national health and economic environment crisis and in the process enabled our company to produce record financial results. The Bank increased full year 2020 net income by 172.23% to $7.36 million, increased resident
BBVA USA reports fourth quarter 2020 results
4Q20 net income of $334 million
- Revenue: Total revenue of $969 million, up 18 percent (annualized) from third quarter 2020 levels as both net interest income (+16 percent annualized) and noninterest income (+24 percent annualized) post double digit gains
- Expenses: Noninterest expense totals $578 million, down 12 percent (annualized) on a linked quarter basis and down 6 percent from the year ago quarter, excluding goodwill impairment. Efficiency ratio ends the quarter at 58.98 percent compared to 63.55 percent on a linked quarter basis and 67.92 percent in the year ago quarter
- Operating income: Operating income(1) in the quarter totals a record $391 million compared to $331 million recorded in the third quarter of 2020 and $279 million recorded in the fourth quarter of 2019