Byblos Bank’s Profits Down by 3.33% y-o-y to $26.92M in Q1 2019

The consolidated financial statements of Byblos Bank revealed a 3.33% year-on-year (y-o-y) retreat in profits to $26.92M in the first quarter of 2019 (Q1 2019). The bank’s reports attribute the drop in profits largely to “increased costs of deposits [and] additional provisions against possible credit risks”, within the context of Lebanon’s political and economic uncertainties.

Byblos bank’s balance sheet also showed that Total assets climbed by an annual 1.47% to $25.37B since year start, while Customer loans declined by 2.42% year-to-date (YTD) to $5.29B. On the liabilities side, Customers’ deposits revealed an uptick of 0.88% YTD to reach $18.34B and Shareholders’ equity increased by 1.30% YTD to $1.94B.

Byblos Bank’s Financial Highlights for Q1 2019

(in USD Millions)31-Mar-1931-Dec-18YTD
Total Assets           25,375.34           25,006.851.47%
Net Loans and advances to customers at amortized cost              5,293.76              5,425.03-2.42%
Customer’s Deposits at amortized cost           18,347.38           18,187.820.88%
Total Shareholders’ Equity              1,945.47              1,920.471.30%
Profit for the period*                    26.92                    27.85-3.33%
*for the period ended March 2018

Source: Beirut Stock Exchange; Byblos Bank.


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