Lebanese banks announce net profits for first 9 months of 2000
Byblos Bank SAL, one of Lebanon’s top 5 banks, announced $35.8 million in net profits for the first 3 quarters of 2000, down 4.5 percent from the same period last year.
The bank’s total assets reached $3.9 billion, up 8.1 percent from September 1999. Customer deposits totaled $3.1 billion, a 7.9 percent rise year-on-year. Loans grew 9.9 percent to $1.1 billion.
Byblos attributed the flat profit growth to the ongoing economic recession as well as to lower returns on Treasury bills and increased provisions against its loan portfolio.
A statement by Byblos said the drop in net income was also due to the bank’s conservative policy of maintaining high liquidity and hedging part of its capital. Non performing loans represented 12.3 percent of the loan portfolio, while the cost-to-income ratio stood at 50.8 percent. Returns on average assets and equity were 1.26 percent and 16.4 percent, respectively, compared to 1.4 and 18 percent at the end of September 1999.
Bank of Beirut SAL, one of Lebanon’s top 10 banks, declared unaudited net profits of $14 million for the first 9 month of 2000, a 1.51 percent increase from the same period last year.
Total assets reached $1.926 billion, up 15.35 percent from September 1999. Customer deposits totaled $1.46 billion, a 16.84 percent rise year-on-year. Loans grew 10.26 percent to $501.36 million. — ( Lebanon Invest)
- First Gulf Bank Q3’2012 net profit up 15% to AED 1,054 million; 9 months net profit up 12% to AED 3,006 million
- Tamweel net profit for first 9 months of 2011 reaches AED 70.7 million, up 295 per cent
- First Gulf Bank achieves solid performance with Q3’2013 Net Profit up 12.8% to AED 1,190Mn; 9 Months Net Profit up 13.2% to AED 3,402Mn
- Fourteen percent rise in net profits for BLOM’s first half 2000