Profits of Byblos Bank Down by an annual 10.5% to $59.9M in H1 2019

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
Total Assets                      25,646                  25,007 2.56%
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

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