Byblos Bank Releases its Un-audited Financials for End-September 2021

Byblos Bank published on 30 October 2021 its un-audited financial results for End-September 2021. As expected, the results were impacted by the current crisis affecting the Lebanese economy and financial markets. The Bank incurred losses in Q3 2021 that amounted to $3.62 million against losses of $8.99 million in Q3 2020. In addition, total operating income stood at $524.92 million, less by 31.44% from Q3 2020; while total operating expenses were $156.50 million, less by 0.38%. As to net impairment on financial assets, it reached $276.51 million against $554.82 million in Q3 2020.

In terms of the balance sheet, total assets stood at $17.40 billion, less by 7.22% than assets at end December 2020. Likewise, loans to customers were $2.04 billion, down by 22.08%; customers’ deposits stood at $13.45 billion, lower by 9.56%; and shareholders’ equity amounted to $1.83 billion, up by 17.15%. As a result, the loans to deposits ratio fell from 17.56% to 15.13%.

Byblos Bank Financials: