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Byblos Bank Reports Strong Balance Sheet Growth While Maintaining Profitability

January 26, 2012
Byblos Bank’s unaudited consolidated total assets increased by 8.6% (+USD 1.3 billion) during 2011 to USD 16.6 billion as at 31 December 2011, as compared to USD $15.3 billion at the end of 2010. Customers’ deposits increased during 2011 by 7.8% (+USD 0.9 billion) to USD 12.8 billion as at 31 December 2011, and net customers’ loans increased by 6.3% (+USD 0.2 billion) during 2011 to USD 4.0 billion as at 31 December 2011.

Net profit for 2011 increased by 1.2% to USD 179.7 million as compared to USD 177.7 million in 2010. The Bank allocated provisions for credit losses (specific and collective) for an amount of USD 44 million during 2011, out of which USD 31.9 million as collective provisions. Specific and collective provisions allocated against the loan portfolio in Byblos Bank Syria amounted to USD 16.7 million.

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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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