Byblos profits see slight drop in first nine months

Byblos Bank reported unaudited net profits of $123 million in the first nine months of 2012. The bank said its profits had dropped by four percent year-on-year on higher provisions for credit losses.

Byblos Bank maintained capital adequacy ratio of 13 percent, exceeding requirements of Basel III.
Total Assets stood at $16.9 billion as at end-September. Customer deposits grew by some four percent to $13.4 billion. Customer loans rose by three percent to $4.1 billion.