The consolidated financial statements of Byblos Bank revealed a yearly down tick of 10.48% in profits to $59.9M in the first half of 2019 (H1 2019). In details, the decline in profits came on the back of a 17% year-on-year (y-o-y) down tick in net interest income to $123.35M and a 1.72% annual decline in Net fees and commission income to $46.32M in H1 2019.
On the banks’ balance sheet, Total assets added 2.56% year-to-date (YTD) to $25.65B. however, Loans and advances to customers decreased by 5.7% since Dec. 2018, to stand at $5.12B in H1 2019. On the liabilities side, Customers’ deposits revealed an incremental upturn of 0.42% since year start, to reach $18.27B, while Shareholders’ equity over the same period retreated by 2.85% YTD to $1.86B.
Byblos Bank’s Financial Highlights for H1 2019
|In millions of USD||30-Jun-19||31-Dec-18||YTD|
|Net loans and Advances to Customers at Amortized Cost||5,117||5,425||-5.69%|
|Customers’ Deposits at Amortized Cost||18,265||18,188||0.42%|
|Total Shareholders’ Equity||1,866||1,920||-2.85%|
|Profit for the Period*||59.89||66.90||-10.48%|
|*June 30, 2018|
Source: Byblos Bank