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Byblos Bank releases financial results for first half of 2017
Source: Byblos Bank , Author: Posted by BI-ME staff
Posted: Wed July 26, 2017 1:35 pm

LEBANON.  Byblos Bank achieved adequate financial results in the first half of 2017, with Customer Deposits and Customer Loans growing by 4.3% and 2% respectively, to reach USD 17.8 billion and USD 5.3 billion.

Net Profit decreased by 9%, resulting from the Bank’s deconsolidation of investments in both Syria and Sudan, along with its adoption of a conservative strategy amid the uncertainties prevailing in the region and in the markets where it operates.

Consolidated Activity Highlights as at end-June 2017:

⦁ USD 21.8 billion in Assets
⦁ USD 17.8 billion in Customer Deposits
⦁ USD 5.3 billion in Net Customer Loans
⦁ USD 2.0 billion in Total Equity
⦁ USD 66.3 million in Net Profit

Advised by the Board of Directors, this conservative strategy entails a prudent lending policy, a lower risk appetite in some overseas markets and high liquidity levels among other. It is especially conceived to sustain the Bank’s financial solidity, guaranteeing long-term protection and stability for shareholders.

Byblos Bank’s immediate foreign-currency liquidity reached 15% as at end of June 2017. While made in the form of short-term placements with investment- and above-investment-grade institutions, it highly exceeds local and international benchmarks. Its Basel III Capital Adequacy Ratio was maintained at above 18% as at end of March 2017, versus recently issued BDL regulatory requirements that raised the minimum to 15% by end-2018.

Byblos Bank continues with its plans and projects aiming to improve its business-development activities, increase staff productivity and leverage resources. These plans and projects will ensure that it is well-positioned to capitalize on potential expansion opportunities and achieve an improvement in profitability in the long term.

 

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