Byblos Bank releases financial results for first nine months of 2017
Byblos Bank Headquarters, Wednesday 25 October 2017: Byblos Bank posted satisfactory financial results in the first nine months of 2017, despite the prevailing uncertainty locally and regionally.
Customer Deposits and Customer Loans grew by 5.3 per cent and 2.5 per cent respectively, to reach $18.0 billion and $5.3 billion.
Byblos Bank’s prudent lending policy, lower risk appetite in some overseas markets, high liquidity levels, and the deconsolidation of investments in some markets, resulted in a slight increase in Net Profit of 0.8 per cent. This conservative strategy aims at preserving the Bank’s financial solidity and ensure long-term protection and stability for shareholders.
The Bank’s immediate foreign-currency liquidity, made in the form of short-term placements with investment- and above-investment-grade institutions, reached 15 per cent as at end of September 2017, highly exceeding local and international benchmarks. Its Basel III Capital Adequacy Ratio, maintained at above 17 per cent as at end of June 2017, surpassed recent BDL regulatory requirements that raised the minimum to 15 per cent by end-2018.
With its high liquidity and capital levels, the continuous improvements in staff productivity, the strengthening in its business processes, and the increased use of technology, Byblos Bank remains well-positioned to capitalise on potential expansion opportunities