Byblos Bank Publishes its Un-audited Financial Results for H1 2021
Byblos Bank published on 31/7/2021 its un-audited financial results for H1 2021. As expected, the results were impacted by the current crisis affecting the Lebanese economy and financial markets. The Bank incurred losses in H1 2021 that amounted to $806.9 thousand against nil in H1 2020, noting that losses of $477.11 thousand came from discontinued operations. In addition, total operating income stood at $371.75 million, less by 39.14% from H1 2020; while total operating expenses were $108.26 million, up by 6.54%. As to net impairment on financial assets, it reached $199.67 million against $465.47 million in H1 2020.
In terms of the balance sheet, total assets stood at $17.61 billion, less by 6.13% than assets at end December 2020. Likewise, loans to customers were $2.23 billion, down by 14.58%; customers’ deposits stood at $13.92 billion, lower by 6.42%; and shareholders’ equity amounted to $1.56 billion, up by 0.17%. As a result, the loans to deposits ratio fell from 17.56% to 16.03%.
Byblos Bank Financials:
| USD’000 | 30-Jun-21 | 31-Dec-20 | 30-Jun-20 | ||||
| Loans to Customers | 2,231,428 | 2,612,305 | 3,288,621 | ||||
| Customers’ Deposits | 13,917,807 | 14,872,917 | 16,095,723 | ||||
| Total Equity | 1,562,367 | 1,559,688 | 1,630,221 | ||||
| Tier I | 1,568,582 | 1,569,972 | 1,681,374 | ||||
| Tier II | (6,215) | (10,284) | (51,153) | ||||
| Total Asset | 17,608,440 | 18,758,198 | 20,113,999 | ||||
| Net Income | (807) | (103,768) | 0 | ||||
| Loans / Deposits ratio | 16.03% | 17.56% | 20.43% |
