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Byblos Bank Posts Healthy Financial Results in the First Quarter of 2016

April 27, 2016

Byblos Bank achieved adequate results for the first quarter of 2016 despite continuing domestic and regional economic instability, posting net profit of USD 33.8 million compared to USD 32.8 million in the first quarter of 2015.

While the new results reflect its efforts to minimize risks amidst significant challenges affecting the markets in which it operates, Byblos Bank continues with its conservative approach, preserving strong asset quality and a diversified loan portfolio, in addition to a robust customer deposit base. Non-performing loans were reduced to 4.5% of total loans and the Bank continued its policy of strict provisioning against possible credit losses, resulting in a coverage ratio of well above 100% on its balance sheet. In addition, the Bank posted strong liquidity of 52% of total assets and a Basel III capital adequacy ratio of 17.3%, far surpassing the regulatory requirement of 12% for end-2015.

Total assets grew 0.9% (+USD 180 million) in the first quarter of 2016 to USD 20,050 million as at 31 March 2016, while customer deposits rose 0.6% (+USD 96 million) in the first quarter of 2016 to USD 16,733 million.


For further information, please contact:
Ziad El Zoghby
Head of Group Finance and Administration 
Phone: +961 1335 280
Email: zelzoghbi<at>byblosbank.com.lb 
 

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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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