Byblos profits at end-September

Bank’s net income rises by six percent during first nine months of 2011

Byblos Bank announced that its net income during the first nine months of 2011 rose to $128 million, increasing by six percent from the same period of last year.

The bank’s consolidated total assets totaled $16.7 billion at end-September 2011, rising by nine percent from the end of 2010.

Customers’ deposits rose by seven percent over the covered period to $12.7 billion. Loans extended to customers stood at $4 billion, up by 5.4 percent from 2010.

Byblos said that it has maintained high immediate liquidity ratio of 48.6 percent. Its Capital Adequacy Ratio, according to Basel II, stood at 14 percent. Its coverage of Non Performing was up to 162 percent by provisions (both specific and collective).