1 Nov 2017 16:24
Byblos Bank S.A.L.
Press Release - Q3 2017 Unaudited Results
1 November 2017
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Consolidated Activity Highlights as at end-September 2017:
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路 USD 22.4 billion in Assets
路 USD 18.0 billion in Customer Deposits
路 USD 5.3 billion in Net Customer Loans
路 USD 2.1 billion in Total Equity
路 USD 114.5 million in Net Profit
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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% and 2.5% respectively, to reach USD 18.0 billion and USD 5.3 billion.
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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%. This conservative strategy aims at preserving the Bank's financial solidity and ensure long-term protection and stability for shareholders.
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The Bank's immediate foreign-currency liquidity, made in the form of short-term placements with investment- and above-investment-grade institutions, reached 15% as at end of September 2017, highly exceeding local and international benchmarks. Its Basel III Capital Adequacy Ratio, maintained at above 17% as at end of June 2017, surpassed recent BDL regulatory requirements that raised the minimum to 15% by end-2018.
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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 capitalize on potential expansion opportunities.
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To view the text of the results, paste the following link into the address bar of your web browser:
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https://www.byblosbank.com/Library/Assets//Gallery/FinancialResult/FinancialReports/Quarterly%20Consolidated%20Financial%20Statements/Quarterly%20Consolidated%20Financial%20Statements/Byblos-Bank-Unaudited-Consolidated-FS-Q3-2017-English.pdf
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For further information, please contact:
Ziad El Zoghby
Head of Group Finance and Administration
Phone: +961 1335 200 Ext. 0511
Email: zelzoghbi@byblosbank.com.lb聽