(Adds details)
BEIRUT, Jan 26 (Reuters) - Lebanon's Byblos Bank's
net profit rose last year by 1.2 percent, a sharp
slowdown from the previous year, when it registered a 22 percent
rise.
The bank said in a statement released on Thursday its assets
grew by 8.6 percent to $16.6 billion and deposits rose 7.8
percent to $12.8 billion. Net customer loans were up 6.3 percent
at $4.0 billion.
Byblos said its results showed "strong balance sheet growth
while maintaining stability."
Like Lebanon's other main lenders, Blom Bank and
Bank Audi, Byblos only enjoyed modest profits, amid an
economic slowdown in the country and rising regional instability
due to a wave of protest movements.
Lebanese banks have been particularly affected by unrest
across the border in Syria, grappling with a 10-month revolt and
facing economic sanctions from the United States and Europe.
1 comment