Byblos Bank published on 29/7/2022 its un-audited, consolidated financial results for end June 2022. As expected, the results were impacted by the current crisis affecting the Lebanese economy and financial markets. The Bank incurred losses in H1 2022 that amounted to $94.047 million against losses of $3.050 million in H1 2021, a fall of $90.997 million.
In terms of the balance sheet, total assets stood at $16.742 billion, less by 2.72% than assets at end December 2021. Likewise, loans to customers were $1.755 billion, down by 6.43%; customers’ deposits stood at $12.868 billion, lower by 2.48%; and shareholders’ equity amounted to $1.679 billion, down by 5.07%. As a result, the loans to deposits ratio fell from 14.21% to 13.64% as loans fell faster than deposits in H1 2022.
Byblos Bank Main Financials:
| USD ‘000 | 30-Jun-22 | 30-Jun-21 | |||||
| Loans to Customers | 1,754,905 | 2,231,428 | |||||
| Customers’ Deposits | 12,867,678 | 13,917,807 | |||||
| Total Equity | 1,678,894 | 1,562,367 | |||||
| Total Asset | 16,741,802 | 17,608,440 | |||||
| Net Income | (94,047) | (3,050) | |||||
| Loans / Deposits ratio | 13.64% | 16.03% | |||||