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Byblos Bank says third-quarter profits dropped 4%
- Lebanon: Sunday, October 28 - 2012 at 03:51
Byblos Bank has said its unaudited net profits in the first nine months of 2012 dropped by 3.98% to $123m from $128.1m in the same period of last year after making more provisions for nonperforming loans, The Daily Star has reported. Gross nonperforming loans represented 4.6% of gross loans up to September, and were covered up to 65.6% by specific provisions and reserved interest. Total assets stood at $16.9bn as of September 30, 2012, while customer deposits grew by 4.2% to $13.4bn. Net customer loans increased by 3.2% to $4.1bn as of September, 30, 2012.
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