Byblos Bank Releases its Un-audited Financials for end 2022

Byblos Bank published on 28/1/2023 its un-audited, consolidated financial results for end 2022. As expected, the results were impacted by the current but prolonged crisis affecting the Lebanese economy and financial markets. The Bank incurred losses in 2022 that amounted to $969.98 million against losses of $17.76 in 2021. As to net impairment losses on financial assets, they reached a positive $23.26 million against negative $283.77 million in 2021.

In terms of the balance sheet, total assets stood at $17.298 billion in 2022, up by 0.52% than assets at end December 2021. Likewise, loans to customers were $1.382 billion, down by 26.32%; customers’ deposits stood at $12.419 billion, lower by 5.87%; and shareholders’ equity amounted to $2.727 billion, up by an impressive 54.21%. As a result, the loans to deposits ratio fell from 14.21% to 11.13% as loans fell faster than deposits in 2022.

 Byblos Bank Main Financials:

USD’000                                    31 Dec 2022      31 Dec 2021

Loans to Customers1,381,9001,875,590
Customers’ Deposits12,419,70913,194,842
Total Equity2,727,3351,768,566
   Tier I 813,990  1,775,458
   Tier II 1,913,345  (6,892)
Total Asset17,298,17617,209,163
Net Income(969,979)(17,756)
Loans / Deposits ratio11.13%14.21%

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