Byblos Bank’s Profits Up by 3.05% to $33.76M in Q1 2016

The consolidated financial statements of Byblos Bank revealed a 3.05% year-on-year (y-o-y) increase in profits to $33.76M in the first quarter of 2016 (Q1 2016). As net interest income and net fees and commissions income respectively fell by a yearly 0.45% and 2.94% to $62.66M and $20.13M, the higher profits were due to gains generated by financial assets held by the bank. The net gain on financial assets at amortized costs actually rose from $11.93 by March 2015 to $33.72M by March 2016.

The banks’ balance sheet showed that assets rose by 0.91% to $20.05B since year start and that customer loans fell by 0.97% since year start to $4.86B. On the liabilities side, customers’ deposits showed a 0.57% upturn since year start to $16.45B while shareholders’ equity increased by 1.50% year-to-date to $1.74B.

Byblos Financial Highlights

Byblos Bank’s Profits Up by 3.05% to .76M in Q1 2016

Source: BSE News

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