Byblos Bank net profits up

Byblos Bank S.A.L. reported a net profit of $165m, as at 31 December 2016, slightly higher than $161m posted in 2015.

Other consolidated activity highlights as at end-December 2016 were as follows: - $20.8 billion in Assets

- $17.1 billion in Deposits

- $5.2 billion in Loans

- $2.1 billion in Total Equity

The bank commented that the overall results for 2016 were satisfactory given the difficult economic and financial conditions in Lebanon and the region.

Lower oil prices and revenues in several countries in the region, in addition to military conflicts, have drained important financial resources that were, directly or indirectly, benefiting the Lebanese economy and the economies in which Byblos Bank does business (i.e., Iraq, Africa).