Byblos Bank reports strong balance sheet growth while maintaining profitability
Byblos Bank Headquarters, Ashrafieh, 26 January 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.
Return on Average Assets (ROA) and Return on Average Common
Equity (ROCE) stood at 1.11% and 12.30% respectively as
compared to 1.22% and 14.03% in 2010. Cost to income
decreased considerably to 43.28% in 2011 compared to 45.18%
in
2010.
Primary liquidity placed with central banks and banks
amounted to USD 9 billion representing 70.2% of total
deposits at the end of December 2011 as compared to
65.5% at the end of December 2010, one of the highest in the
sector. Moreover, the
Bank continued in its strategy to match long-term foreign
currency assets with long- term funding in foreign currency,
as evidenced by the recent issuance of USD 300 million in
10-year bonds carrying a coupon of 7%.
Total capital of the Bank (Tier 1 and Tier 2) amounted to USD
1,851 million at the end of December2011. Capital Adequacy
Ratio according to Basle 2 stood at 14%. Gross non-performing
loans represented 2.95% of gross loans as at 31 December
2011, and were covered up to 81.1% by specific provisions &
reserved interest. The
coverage ratio reaches 139% when we account for collective
provisions. Net non- performing loans (net of specific
provisions and reserved interest) reached 0.58% at the end of
December2011.
For further information, please contact: Ziad El Zoghby
Head of Finance & Administration Division
Byblos Bank S.A.L.
Phone: +961 1335 280
distribué par | Ce noodl a été diffusé par Byblos Bank SAL et initialement mise en ligne sur le site http://www.byblosbank.com.lb. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-27 17:16:31 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Byblos Bank Reports Strong Balance Growth |