B B Hldg : 29 December 2015 BCB HOLDINGS LIMITED ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED SEPTEMBER 30, 2015

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BCB HOLDINGS LIMITED ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED SEPTEMBER 30, 2015

Belize City, Belize, December 29, 2015 -- BCB Holdings Limited (London - AIM: BCB; Bermuda - BBHL) (the "Company" or "BCBHL")

The Company reported a net income from operations of $0.7m for the three months ended September 30, 2015 (2014 - net income of $0.2m), and a net income per ordinary share from continuing operations for the three months of $0.01 (2014 - net income per share of $0.00).

For further information contact:

BCB Holdings Limited

UK [phone]

Belize [phone]

Cenkos Securities plc

Nicholas Wells [phone]

Note: This and other press releases are available at the Company's web site: http://www.bcbholdings.com

Background Information

BCB Holdings Limited (BCBHL) is a parent holding company with no independent business operations or assets other than its investments in its subsidiaries, intercompany balances and holdings of cash and cash equivalents. BCBHL's businesses are conducted through its subsidiaries. The Belize Bank Limited (BBL) is incorporated and based in Belize and focuses on the provision of financial services and lending to domestic clients. Belize Bank International Limited is incorporated and based in Belize and focuses on the provision of financial services and lending to international clients. BCBHL also owns an international corporate services business based in Belize. Within Belize, BBL is the largest, full service commercial and retail banking operation with a head office in Belize City and twelve branches extended into each of the six districts of Belize. The principal operations of BBL are commercial lending, consumer lending, deposit taking and related banking activities.

BCB Holdings Limited Financial Information

Summarized Consolidated Statements of Comprehensive Income (unaudited) US dollars in millions except per share data

3 months ended September 30,	3 months ended September 30,	6 months ended September 30,	6 months ended September 30,
2015	2014	2015	2014
$m	$m	$m	$m
Financial Services
Interest income	8.5	10.5	17.1	20.6
Interest expense	(2.0)	(2.2)	(4.0)	(4.5)
Net interest income	6.5	8.3	13.1	16.1
Provision for loan losses	(2.5)	(3.6)	(4.9)	(5.8)
Net non-interest expense	(2.0)	(2.3)	(2.9)	(3.9)
Operating income - Financial Services	2.0	2.4	5.3	6.4
Corporate expenses	(0.7)	(1.0)	(1.5)	(2.1)
Net income before tax	1.3	1.4	3.8	4.3
Taxation	(0.6)	(1.2)	(1.3)	(2.3)
Net income after tax and before other
comprehensive income	0.7	0.2	2.5	2.0
Other comprehensive income:
Unrealized (losses) gains on securities	(0.1)	0.1	(0.9)	0.5
Comprehensive income	0.6	0.3	1.6	2.5
Earnings per ordinary share:
Basic and diluted:
Net income	$0.01	$0.00	$0.03	$0.02
Number of shares - basic and diluted	99.9m	99.9m	99.9m	99.9m

Summarized Consolidated Balance Sheets (unaudited)

September 30 2015	March 31 2015
$m	$m
Assets
Financial Services
Cash, cash equivalents and due from banks	168.2	183.6
Interest-bearing deposits with correspondent banks	10.8	55.9
Other securities	14.2	46.2
Government of Belize securities	-	-
Current assets	193.2	285.7
Loans - net	314.8	320.5
Property, plant and equipment - net	16.1	16.4
Government of Belize receivable	18.3	18.0
Other assets	6.3	8.2
Total Financial Services assets	548.7	648.8
Corporate
Cash and cash equivalents	0.5	0.1
Property, plant and equipment - net	0.1	-
Other current assets	5.9	6.1
Total assets	555.2	655.0
Liabilities and shareholders' equity
Financial Services
Deposits	477.6	577.3
Interest payable	3.8	3.7
Other liabilities	6.2	8.2
Total Financial Services liabilities	487.6	589.2
Corporate
Current liabilities	8.3	8.1
Total liabilities	495.9	597.3
Total shareholders' equity	59.3	57.7
Total liabilities and shareholders' equity	555.2	655.0

Summarized Consolidated Statements of Cash Flows (unaudited)

6 Months ended September 30	2015 $m	2014 $m
Cash flows from operating activities Net income from operations	2.5	2.0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	0.9	0.9
Provision for loan losses	4.9	5.8
Decrease in interest payable	0.1	(0.2)
Changes in assets and liabilities - net	-	(2.8)
Net cash provided by operating activities	8.4	5.7
Cash flows from investing activities
Purchase of property, plant and equipment (net of disposals)	(0.6)	(0.3)
Decrease in interest-bearing deposits with correspondent banks	45.1	28.2
Decrease (increase) in investment securities	32.0	(7.5)
(Increase) decrease in Government of Belize securities	-	(8.5)
Decrease in loans (net of charge-offs) to customers	0.8	3.5
Net cash provided by investing activities	77.3	15.4
Cash flows from financing activities
(Decrease) increase in deposits	(99.7)	(15.4)
Other movements	(0.9)	0.5
Net cash (utilized) by financing activities	(100.6)	(14.9)
Net change in cash, cash equivalents and due from banks	(14.9)	6.2
Cash, cash equivalents and due from banks at beginning of period	183.6	174.5
Cash, cash equivalents and due from banks at end of period	168.7	180.7
Cash - financial services	168.2	179.0
Cash - corporate	0.5	1.7
168.7	180.7