Byblos Bank published its un-audited financial results for end-year 2021. As expected, the results were impacted by the current crisis affecting the Lebanese economy and financial markets. The Bank incurred losses in 2021 that amounted to $17.9 million against losses of $103.8 million in 2020. In addition, total operating income stood at negative $234.8 million, compared to a positive $ 846.7 million in 2020; while total operating expenses were $210.4 million, almost unchanged from $210.3 million in 2020. As to net impairment on financial assets, it reached a positive $538 million against a negative $705.4 million in 2020; as a result, net operating income totaled 303 million in 2021 relative to 141.5 million in 2020.
In terms of the balance sheet, total assets stood at $17.2 billion, less by 8.1% than assets at end December 2020. Likewise, loans to customers were $1.9 billion, down by 26.9%; customers’ deposits stood at $13.1 billion, lower by 10.3%; and shareholders’ equity amounted to $1.8 billion, up by 16.2%. As a result, the loans to deposits ratio fell from 17.6% to 14.3% as loans fell faster than deposits in 2021.
Byblos Bank Financials:
| LBP million | 31-Dec-21 | 31-Dec-20 | |||||
| Loans to Customers | 2,815,990 | 3,926,723 | |||||
| Customers’ Deposits | 19,757,862 | 22,018,790 | |||||
| Total Equity | 2,731,773 | 2,351,229 | |||||
| Total Asset | 25,986,545 | 28,277,984 | |||||
| Net Income | (26,929) | (156,430) | |||||
| Loans / Deposits ratio | 14.3% | 17.6% | |||||
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