You are hereHome SectorsLebanon
Byblos Bank continues to achieve adequate results in first nine months of 2016
Source: Byblos Bank , Author: Posted by BI-ME staff
Posted: Thu October 27, 2016 9:37 am

LEBANON. Byblos Bank posted adequate net profit of USD 113.7 million for the first nine months of 2016, up slightly from USD 113.1 million in the same period of last year.

The Bank’s total assets grew by 3.5% (+USD 703 million) to USD 20,572 million, while customers’ deposits increased by 3.2% (+USD 535 million) to USD 17,172 million, and net customers’ loans grew by 4.2% (+USD 207 million) to USD 5,138 million.

These results reconfirm Byblos Bank’s ability to navigate challenging local and regional economic conditions.  The Bank maintained its focus on avoiding taking unnecessary risks while maintaining strong asset quality and a well-diversified loan portfolio.

This strategy enabled Byblos Bank to capitalize on its financial strength and successfully complete the acquisition of Banque Pharaon & Chiha, as per the final approval of Banque du Liban on the operation on 19 October 2016.

Byblos Bank continues its policy of strict provisioning against possible loan losses (with a coverage ratio exceeding 100%) and against other unforeseen risks.  In addition, the Bank’s Basel III Capital Adequacy Ratio of 16.3% continues to be far above the current regulatory requirement of 12%.  

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: May 25, 2018
INTERNATIONAL. AI is creating jobs, yet 80% of respondents say there is a lack of talent to fill positions; More than 50% of respondents use AI to improve products and increase efficiency; C-suite support and performance metrics are needed to scale AI strategies.
date:Posted: May 24, 2018
UAE. 10% of the total real estate debt market could come from private providers within the next decade; Report outlines how diversified debt sources and alternative financing structures will boost lending competition and in turn inject new capital into the real estate market.
date:Posted: May 24, 2018
INTERNATIONAL. The more "human" our solutions, the greater chance we'll be building monuments that become meaningful parts of people's lives and not just monoliths.
INTERNATIONAL. AI is creating jobs, yet 80% of respondents say there is a lack of talent to fill positions; More than 50% of respondents use AI to improve products and increase efficiency; C-suite support and performance metrics are needed to scale AI strategies.
dhgate