Byblos Bank records high capital adequacy ratio and high liquidity
- Lebanon: Sunday, October 28 - 2012 at 10:54
- PRESS RELEASE
Byblos Bank sustained in the third quarter of 2012 its conservative strategy and preserved its solid financial position. Within the context of volatile and uncertain local and regional conditions, the Bank continued to record a capital adequacy ratio exceeding requirements of Basel III, while reinforcing its resilience, maintaining its high liquidity, and improving its asset quality.
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.
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