Byblos Bank published on 30 October 2021 its un-audited financial results for End-September 2021. As expected, the results were impacted by the current crisis affecting the Lebanese economy and financial markets. The Bank incurred losses in Q3 2021 that amounted to $3.62 million against losses of $8.99 million in Q3 2020. In addition, total operating income stood at $524.92 million, less by 31.44% from Q3 2020; while total operating expenses were $156.50 million, less by 0.38%. As to net impairment on financial assets, it reached $276.51 million against $554.82 million in Q3 2020.
In terms of the balance sheet, total assets stood at $17.40 billion, less by 7.22% than assets at end December 2020. Likewise, loans to customers were $2.04 billion, down by 22.08%; customers’ deposits stood at $13.45 billion, lower by 9.56%; and shareholders’ equity amounted to $1.83 billion, up by 17.15%. As a result, the loans to deposits ratio fell from 17.56% to 15.13%.
Byblos Bank Financials:
| USD’000 | 30-Sept-21 | 31-Dec-20 | |||||
| Loans to Customers | 2,035,395 | 2,612,305 | |||||
| Customers’ Deposits | 13,450,880 | 14,872,917 | |||||
| Total Equity | 1,827,130 | 1,559,688 | |||||
| Tier I | 1,834,772 | 1,569,972 | |||||
| Tier II | (7,642) | (10,284) | |||||
| Total Asset | 17,403,489 | 18,758,198 | |||||
| Net Income | (3,621) | (103,768) | |||||
| Loans / Deposits ratio | 15.13% | 17.56% |