Byblos Bank recorded profits of $70.1M in H1 2015, a 1.07% increase from H1 2014, according to their unaudited financial statements. This mainly came on the back of the 8.83% yearly increase in net interest income to $127.82M and despite the annual 10.36% drop in net fees and commissions’ income to $40.52M.
As for total assets, they grew from the beginning of the year by 0.72% to $19.17B although loans and facilities to customers and related parties dropped by 0.94% year-to-date (y-t-d) to $4.68B. On the liabilities side, customers’ deposits increased by 1.48% y-t-d to $15.95B while total shareholders’ equity registered a y-t-d fall of 3.72% to $1.62B.
Worth mentioning, according to the press release, the Bank’s net non-performing loans to net loans was maintained at below 1%, and the coverage ratio of non-performing loans reached 113%. Immediate liquidity with banks and central banks stood at $9.5B, representing 50% of the bank’s total assets.
Byblos Bank H1 2015 Financial Highlights ($B)
|Loans and Facilities to Customers||4.68||4.72||-0.94%|
|Net Profit ($M)||70.10||69.36||1.07%|
|*From June 2014 to June 2015|
Source: Byblos Bank