Byblos Bank records high capital adequacy ratio and high liquidity

Byblos Bank's Primary Liquidity Placed with Central Banks and Banks amounted to $9.2bn representing 68.7% of total deposits at the end of September 2012. Thus, the Bank maintained one of the most elevated liquidity levels in the banking sector.

The capitalization of Byblos Bank recorded a high level with a Basel III Capital Adequacy Ratio of 13%, versus a 12% minimum regulatory requirement with full compliance by December 2015.

Byblos Bank kept a strong asset quality, thereby allocating specific and collective provisions for credit losses for an amount of $40.1m during the first nine months of 2012, out of which $13.9m are collective provisions.

Gross Non-performing Loans represented 4.6% of gross loans as at 30 September 2012, and were covered up to 65.6% by specific provisions and reserved interest. The coverage ratio reaches 98.6% when collective provisions are accounted, which represents 1.6% of Net Loans. Net Non-performing Loans (net of specific provisions and reserved interest) reached 1.70% of Net Loans at the end of September 2012.

The Bank matched long-term foreign currency assets with long-term funding in foreign currency, as evidenced by last year's issuance of $300m in 10-year bonds carrying a coupon of 7%.

Byblos Bank's unaudited consolidated Net Income for the first nine months of 2012 reached $123m after allocating provisions for credit losses for an amount of $40.1m, Total Assets stood at $16.9bn as at 30 September 2012. Customer Deposits grew, during the first nine months of 2012, by 4.2% (+$0.5bn) to $13.4bn as at 30 September 2012. While Net Customer Loans increased, during the first nine months of 2012, by 3.2% (+$0.1bn) and reached $4.1bn as at 30 September 2012.