Byblos profits inch upward

Total assets reach at $16.8 billion in first quarter

Byblos Bank reported net profits of $39 million in the first quarter of this year, compared to profits of $38.7 million for the same period last year. 

According to the bank’s consolidated unaudited financial results, total assets stood at $16.8 billion at end-March 2012, up from $16.6 billion for the same period last year.

Customer deposits stood at around $13 billion in the first quarter, up from $12.8 billion at end-2011, while loans stood at $4 billion, almost unchanged from last year.

The bank reported that net non-performing loans to gross loans stood at 1.08 percent. The coverage ratio including specific and collective provisions and reserved interests stood at around 124 percent.

Reported by Hanadi Chami