Byblos Bank’s Profits up by 0.76% YOY to $114.5M by September 2017

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                   

 

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