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FINANCIAL NEWS
Byblos Bank reports growth in net profit in 2016
28 Jan 2017
(MENAFN) The Lebanese Byblos Bank reported a growth in net profit if 2016 by 2.48% to USD165 million compared to 2015, as by the end of 2016 the bank reported a net profit of USD165 million, slightly higher than USD161 million posted in 2015,” the bank”s statement said.
As it was the first of the six listed lenders in Beirut Stock Exchange to announce the financial results for 2016, other listed banks are obliged according to the bourse law to disclose the financial results every quarter.
The bank said: “Byblos Bank 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.”
MENAFN2801201700450000ID1095221215
MENAFN2801201700450000ID1095221215
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