The consolidated financial statements of Byblos Bank revealed a 0.76% year-on-year (YOY) uptick in Byblos Bank’s profit to $114.5M by September 2017. The bank’s official statement explains the increase in profit as such: “Byblos Bank’s prudent lending policy, lower risk appetite in some overseas markets, high liquidity levels, and the deconsolidation of investments in some markets, resulted in a slight increase in Net Profit of 0.8%. This conservative strategy aims at preserving the Bank’s financial solidity and ensures long-term protection and stability for shareholders”.
The banks’ balance sheet showed that total assets rose by 7.61% since year-start to $22.4B and that customer loans at amortized cost increased by 2.47% since year start to $5.29B. On the liabilities side, customers’ deposits at amortized cost showed an increase of 5.28% since year start to $17.75B while shareholders’ equity registered an uptick of 0.96% year-to-date to $1.82B.
Byblos Bank’s Financial Highlights by September 2017
|In millions of USD||Sep-17||Dec-16||YTD|
|Total Assets|| 22,396|| 20,812||7.61%|
|Net loans and Advances to Customers at Amortized Cost|| 5,293|| 5,166||2.47%|
|Customers’ Deposits at Amortized Cost|| 17,749|| 16,859||5.28%|
|Total Shareholders’ Equity|| 1,821|| 1,804||0.96%|
|Profit for the Period|| 114.5|| 113.7 (*)||0.76%|
(*): Value of September 2016
Source: Byblos Bank, Beirut Stock Exchange