Byblos Bank published on 28/10/2022 its un-audited, consolidated financial results for end September 2022. As expected, the results were impacted by the current crisis affecting the Lebanese economy and financial markets. The Bank incurred losses in Q3 2022 that amounted to $153.633 million against losses of $3.621in Q3 2021. As to expected credit losses, they reached a positive $56.778 million against negative $276.603 million in Q3 2021.
In terms of the balance sheet, total assets stood at $16.541 billion in Q3 2022, less by 3.88% than assets at end December 2021. Likewise, loans to customers were $1.587 billion, down by 15.40%; customers’ deposits stood at $12.794 billion, lower by 3.04%; and shareholders’ equity amounted to $1.604 billion, down by 9.28%. As a result, the loans to deposits ratio fell from 14.21% to 12.4% as loans fell faster than deposits in Q3 2022.
Byblos Bank Main Financials:
| USD ‘000 | 30-Sep-22 | 30-Sep-21 | |||||
| Loans to Customers | 1,586,793 | 2,035,395 | |||||
| Customers’ Deposits | 12,794,044 | 13,450,880 | |||||
| Total Equity | 1,604,394 | 1,827,130 | |||||
| Total Asset | 16,540,874 | 17,403,489 | |||||
| Net Income | (153,633) | (3,621) | |||||
| Loans / Deposits ratio | 12.40% | 15.13% | |||||