Byblos Bank published on Friday April 30, 2021 its un-audited financial results for Q1 2021. As expected, the results were impacted by the current crisis affecting the Lebanese economy. Net profit in Q1 2021 came to $883 thousand against $7.96 million in Q1 2020.
In terms of the balance sheet, total assets stood at $18.39 billion, less by 2.18% than assets at end December 2020. Likewise, loans to customers were $2.34 billion, down by 10.69%; customers’ deposits stood at $14.49 billion, lower by 2.86%; and shareholders’ equity amounted to $1.56 billion, less by 0.36%. As a result, the loans to deposits ratio fell from 17.53% to 16.12%.
Byblos Bank Financials
| USD’000 | 31-Mar-21 | 31-Dec-20 | ||
| Loans to Customers | 2,336,250 | 2,615,865 | ||
| Customers’ Deposits | 14,495,818 | 14,922,256 | ||
| Total Equity | 1,563,262 | 1,568,897 | ||
| Tier I | 1,616,877 | 1,624,158 | ||
| Tier II | (53,615) | (55,261) | ||
| Total Asset | 18,395,024 | 18,805,363 | ||
| Net Income | 883 | (46,633) | ||