Byblos Bank recorded profits of $70.1M in H1 2015, a 1.07% increase from H1 2014, according to their unaudited financial statements. This mainly came on the back of the 8.83% yearly increase in net interest income to $127.82M and despite the annual 10.36% drop in net fees and commissions’ income to $40.52M.
As for total assets, they grew from the beginning of the year by 0.72% to $19.17B although loans and facilities to customers and related parties dropped by 0.94% year-to-date (y-t-d) to $4.68B. On the liabilities side, customers’ deposits increased by 1.48% y-t-d to $15.95B while total shareholders’ equity registered a y-t-d fall of 3.72% to $1.62B.
Worth mentioning, according to the press release, the Bank’s net non-performing loans to net loans was maintained at below 1%, and the coverage ratio of non-performing loans reached 113%. Immediate liquidity with banks and central banks stood at $9.5B, representing 50% of the bank’s total assets.
Byblos Bank H1 2015 Financial Highlights ($B)
| 30-Jun-2015 | 31-Dec-2014 | % change | |
| Customers Deposits | 15.95 | 15.72 | 1.48% |
| Loans and Facilities to Customers | 4.68 | 4.72 | -0.94% |
| Total Assets | 19.17 | 19.03 | 0.72% |
| Shareholders’ Equity | 1.62 | 1.69 | -3.72% |
| Net Profit ($M) | 70.10 | 69.36 | 1.07% |
| *From June 2014 to June 2015 |
Source: Byblos Bank