BOK Financial Corporation (BOKF) has reported 16.07 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $50.03 million, or $0.76 a share in the quarter, compared with $59.60 million, or $0.89 a share for the same period last year. Revenue during the quarter grew 6.36 percent to $337.95 million from $317.74 million in the previous year period. Net interest income for the quarter rose 7.14 percent over the prior year period to $194.20 million. Non-interest income for the quarter fell 9.58 percent over the last year period to $143.75 million.
Net interest margin contracted 1 basis points to 2.63 percent in the quarter from 2.64 percent in the last year period. Efficiency ratio for the quarter deteriorated to 72.93 percent from 67.73 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.
Steven G. Bradshaw, president and chief executive officer, noted, "In 2016 we achieved record net interest income and fees and commissions revenue, generated strong loan growth despite a significant reduction in energy loan outstandings, and worked through a protracted commodities downturn with performance near the top of our peer group of energy banks.
Liabilities outpace assets growthTotal assets stood at $32,772.28 million as on Dec. 31, 2016, up 4.12 percent compared with $31,476.13 million on Dec. 31, 2015. On the other hand, total liabilities stood at $29,465.92 million as on Dec. 31, 2016, up 4.46 percent from $28,208.49 million on Dec. 31, 2015. Loans outpace deposit growthNet loans stood at $16,743.50 million as on Dec. 31, 2016, up 6.54 percent compared with $15,715.63 million on Dec. 31, 2015. Deposits stood at $22,748.10 million as on Dec. 31, 2016, up 7.87 percent compared with $21,088.16 million on Dec. 31, 2015. Investments stood at $10,327.52 million as on Dec. 31, 2016, down 4.32 percent or $465.94 million from year-ago. Shareholders equity stood at $3,306.36 million as on Dec. 31, 2016, up 1.18 percent or $38.72 million from year-ago.
Return on average assets moved down 16 basis points to 0.60 percent in the quarter from 0.76 percent in the last year period. At the same time, return on average equity decreased 109 basis points to 6.03 percent in the quarter from 7.12 percent in the last year period.
Nonperforming assets moved up 41.58 percent or $104.73 million to $356.64 million on Dec. 31, 2016 from $251.91 million on Dec. 31, 2015.
Tier-1 leverage ratio stood at 8.72 percent for the quarter, down from 9.25 percent for the previous year quarter. Book value per share was $50.12 for the quarter, up 2.22 percent or $1.09 compared to $49.03 for the same period last year.
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