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